Home prices rose 6.9 percent in January 2016 compared with January 2015, according to the CoreLogic Home Price Insights Report.
Prices will increase 5.5 percent between January 2016 and January 2017, CoreLogic predicted.
Month-over-month, home prices in January increase 1.3 percent compared with December 2015.
Between January and February, CoreLogic forecasted a 0.5 percent increase in home prices.
The states with the highest year-over-year home price increases are Washington (11.6 percent), Colorado (10.9 percent), Oregon (10.0 percent), Florida (9.1 percent) and Idaho (8.4 percent).
“While the national market continues to steadily improve, the contours of the home price recovery are shifting,” said Frank Nothaft, chief economist for CoreLogic. “The Northwest and Rocky Mountain states have experienced greater appreciation and account for four of the top five states for home price growth.”
