We headed into 2013 with prices on a rebound due to an 8.3% year-over-year surge in home prices in December, according to data firm CoreLogic. The Irvine, Calif.-based company said December home prices grew the most annually since May of 2006. From November, home prices – including distressed sales – edged down 0.4%. When excluding distressed properties, home prices rose 7.5% over last year in December 'December marked 10 consecutive months of year-over-year home price improvements, and the strongest growth since the height of the last housing boom more than six years ago,' said Mark Fleming, chief economist for CoreLogic. 'We expect price growth to continue in January as our Pending HPI shows strong year-over-year appreciation.' CoreLogic's Home Price Index currently suggests home prices will rise 7.9% from last year in January and fall by 1% from December. When excluding distressed sales, January home prices could rise 8.6% from a year ago.
Sheila Newton, CDPE
Sheila Newton Team
Berkshire Hathaway HomeServices -
C. Dan Joyner, Realtors