CoreLogic, a residential property information, analytics and services provider, released its September CoreLogic Home Price Index report. Home prices nationwide, including distressed sales, increased 12 percent on a year-over-year basis in Sept. 2013 compared to Sept. 2012. This change represents the 19th consecutive monthly year-over-year increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 0.2 percent in September 2013 compared to August 2013.
Excluding distressed sales, home prices increased on a year-over-year basis by 10.8 percent in Sept. 2013 compared to Sept. 2012. On a month-over-month basis, excluding distressed sales, Oct. 2013 home prices are poised to rise 11.2 percent year-over-year from Oct. 2012 and by 0.1 percent month-over-month from Sept. 2013.
“September marked the unofficial give-year anniversary of the start of the housing crisis,” said Mark Fleming, chief economist for CoreLogic. “The five-year home price appreciation for all homes in the nation was 3.4 percent. While there is still room for improvement, the CoreLogic HPI is at the highest level since May 2008.”
“U.S. home prices continued their ascent in September,” said Anand Nallathambi, president and chief executive officer of CoreLogic. “We are seeing a slowdown in the rate of price appreciation over the past few months from the rapid pace experienced over the first half of this year. This declaration is natural and should help keep market fundamentals in balance over the longer-term.”