CoreLogic: Home Prices Rise 11 Percent in December

CoreLogic, a leading residential property information, analytics and services provider, released its December CoreLogic Home Price Index (HPI) report Tuesday, indicating that home prices nationwide increased 11 percent in December 2013 compared to December 2012. This change represents the 22nd consecutive monthly year-over-year increase in home prices nationally. On a month-over-month basis, home prices nationwide decreased by 0.1 percent in December 2013 compared to November 2013. Including distressed sales, the five states with the highest home price appreciation in December were Nevada (+23.9 percent), California (+19.7 percent), Michigan (+14.0 percent), Oregon (+13.7 percent) and Georgia (+12.8 percent). Arkansas (-1.5 percent), New Mexico (-1.3 percent) and Mississippi (-.2 percent) posted home price depreciation in December 2013.

"Last year, home prices rose 11 percent, the highest rate of annual increase since 2005, and 10 states and the District of Columbia reached new all-time price peaks," Dr. Mark Fleming, chief economist for CoreLogic, said in a statement. The CoreLogic Pending HPI indicates that January 2014 home prices, including distressed sales, are projected to increase 10.2 percent year over year from January 2013. On a month-over-month basis, home prices are expected to dip 0.8 percent from December 2013 to January 2014.