Home Prices Increased 7.4 Percent in 2014

For the full year in 2014, home prices increased 7.4 percent, which is down from the 11.1 percent increase seen in 2013, according to CoreLogic’s Home Price Index report.

The beginning of 2014 saw some states, such as Nevada and California, experiencing double-digit growth. That slowed as the year went on, and price growth moderated and stabilized at 5 percent for the last four months, said Sam Khater, deputy chief economist for CoreLogic, in the report.

Year-over-year home price growth in December 2014 increased 5 percent from December 2013, the 34th consecutive month of year-over-year home price gains.

Price increases from December 2014 to December 2015 will be similar, with CoreLogic predicting a 4 percent raise.

Month-to-month, from November to December 2014, home prices decreased 0.1 percent.

Nationwide, home prices remain 13.4 percent below their peak, set in April 2006.