National home prices increased by 5.5 percent annually in November, according to the CoreLogic Home Price Index.
Month-to-month, home prices increased 0.1 percent. Including November's modest gain, home prices nationwide remain 12.9 percent below their peak, set in April 2006.
CoreLogic HPI Forecasts predicts a 0.1 decrease in home prices between November and December 2014. In the long term, national home prices should rise by 4.6 percent from November 2014 to November 2015, CoreLogic projects.
“The pace of home price gains have slowed as we exit 2014 but this is probably only a temporary lull," said Anand Nallathambi, CoreLogic CEO, in the report. "We believe that prices will be up a year from now as continued economic growth fuels buyer confidence and their willingness to purchase a home and invest in their future.”
Only four cities of 100 showed year-over-year declines. They were Baltimore-Columbia-Towson, Md.,; Camden, N.J.; Greensboro-High Point, N.C.; and Winston-Salem, N.C.
The full report can be accessed online after registering on CoreLogic's website.
