Largest Bump in Home Prices Since 2006
Home prices nationwide, including distressed sales, increased year-over-year by 8.3 percent in December, the largest bump in home prices since 2006 and the 10th consecutive monthly increase in home prices nationally, according to analysts at CoreLogic.
Looking month-over-month, including distressed sales, home prices increased by 0.4 percent in December 2012 compared to November 2012, according to the December CoreLogic Home Price Index report released Tuesday.
Home prices in the Dallas-Fort Worth Metroplex have followed a similar track. The National Association of Realtors on Monday will release its fourth quarter metro area home prices report, which will provide specifics for the DFW market.
“Demand for housing will remain strong through 2013,” writes Robbie Briggs, CEO and president of Briggs Freeman Sotheby’s International Realty, in the latest edition of his quarterly “Robbie Report.” “The supply of homes is tight in Dallas, which should signal good price appreciation.”
Indeed, the CoreLogic analysts say home prices should continue to climb in 2013.
“We are heading into 2013 with home prices on the rebound,” said Anand Nallathambi, president and CEO of CoreLogic. “The upward trend in home prices in 2012 was broad based with 46 of 50 states registering gains for the year. All signals point to a continued improvement in the fundamentals underpinning the U.S. housing market recovery.”
The analysis is based on MLS (Multiple Listing Service) data.
Source: Update Dallas