US home prices up 10% in Colorado and Wash­ing­ton

Financial Mirror (Cyprus) - - FRONT PAGE -

Home prices in the United States rose for the 46th con­sec­u­tive month in De­cem­ber. Com­pared with De­cem­ber of 2014, home prices rose 6.3%, in­clud­ing the sales of dis­tressed prop­er­ties. The year-over-year Novem­ber in­crease was also 6.3%. Month over month, De­cem­ber home prices rose by 0.8% from Novem­ber prices, which had risen 0.5% over Oc­to­ber prices.

Louisiana, Mis­sis­sippi and New Mex­ico were the only states to post neg­a­tive home price changes in De­cem­ber. In­clud­ing sales of dis­tressed prop­er­ties, Louisiana prices were down 2.9%, sales prices in Mis­sis­sippi were down 2.8% and New Mex­ico prices were down 0.1%. All three were also the only states to ex­pe­ri­ence lower growth in Novem­ber. The data were re­leased by CoreLogic in its Home Price In­dex re­port for De­cem­ber.

In­clud­ing sales of dis­tressed prop­er­ties, the five states post­ing the largest year-over-year price in­creases in De­cem­ber were Colorado (10.4%), Wash­ing­ton (10.3%), Ore­gon (9.1%), Idaho (8.6%) and Ne­vada (8%).

Ex­clud­ing sales of dis­tressed prop­er­ties, the five states post­ing the big­gest price in­creases over the past 12 months were Colorado (9.7%), Wash­ing­ton (9.5%), Ore­gon (9.3%), New York (8.5%) and Ne­vada (8.3%).

The five states with the largest re­main­ing peak-tocur­rent de­clines, in­clud­ing dis­tressed trans­ac­tions, were Ne­vada (29.8%), Florida (27.8%), Rhode Is­land (25.7%), Ari­zona (25.1%) and Con­necti­cut (23.1%). Peak home prices oc­curred in April 2006 and cur­rent prices re­main 7.6% below that peak.

CoreLogic’s chief econ­o­mist said: “Na­tion­ally, home prices have been ris­ing at a 5 to 6 per­cent an­nual rate for more than a year. How­ever, lo­cal-mar­ket growth can vary sub­stan­tially from that. Some metropoli­tan ar­eas have had dou­ble-digit ap­pre­ci­a­tion, such as Den­ver and Naples, Florida, while oth­ers have had price de­clines, like New Or­leans and Rochester, New York.”

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