Home prices in December rose 6.3 percent year-over-year, the 46th straight month of annual increases, according to U.S. Home Price Insights Report from CoreLogic.
National single-family home prices remain 7.6 percent below peak values reported in April 2006, but CoreLogic predicts a new peak level will be reached in May 2017.
CoreLogic also forecasts a 5.4 percent year-over-year increase in home prices between December 2015 and December 2016.
Colorado reported a 10.4 percent annual increase in December, the highest annual gain in home prices in the nation. It was followed by Washington (10.3 percent) and Oregon (9.1 percent).
The states remaining furthest from their peak values in December were Nevada, Florida and Rhode Island. They were 29.8 percent, 27.8 percent and 25.7 percent below peak values.
