IRVINE, Calif.— Home prices nationwide, including distressed sales, increased 5.5% in November 2014 compared to November 2013.
This change represents 33 months of consecutive year-over-year increases in home prices nationally, according to the November 2014 CoreLogic Home Price Index (HPI) report. On a month-over-month basis, home prices nationwide, including distressed sales, rose by 0.1% in November 2014 compared to October 2014, the company said
The CoreLogic HPI found that at the state level, including distressed sales, all states and the District of Columbia showed year-over-year home price appreciation in November. Twenty-nine states are at or within 10% of their peak. Seven states reached new highs in the home price index (since January 1976 when the index starts); these states were: Colorado, North Dakota, Oklahoma, South Dakota, Tennessee, Texas and Wyoming.
Excluding distressed sales, home prices nationally increased 5.3% in November 2014 compared to November 2013 and 0.3% month over month compared to October 2014. Also excluding distressed sales, all states and the District of Columbia showed year-over-year home price appreciation in November. Distressed sales include short sales and real estate owned (REO) transactions.
The CoreLogic HPI Forecast indicates that home prices, including distressed sales, are projected to decrease 0.1% month over month from November 2014 to December 2014 and increase, on a year-over-year basis, by 4.6% from November 2014 to November 2015.
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