Home Prices in Colorado, Washington Added 10% in September
November 3, 2015 by Paul AusickHome prices in the United States rose for the 43rd consecutive month in September. Compared with September of 2014, home prices rose 6.4%, including the sales of distressed properties. The year-over-year August increase was 6.9%. Month over month, September home prices rose by 0.6% from August prices, which had risen 1.2% over July prices.
Only Louisiana and Mississippi posted negative home price changes in September. Including sales of distressed properties, sales prices in Mississippi are down 0.88% and Louisiana prices are down 0.1%.
The data were released Tuesday by CoreLogic in its Home Price Index report for September.
Including sales of distressed properties, the five states posting the largest year-over-year price increases in September were Colorado (10.4%), Washington (10.0%), Oregon (9.1%), New York (9.0%) and Nevada (8.9%).
Excluding sales of distressed properties, the five states posting the biggest price increases over the past 12 months were Colorado (10.3%), New York (9.7%), Washington (9.4%), Oregon (8.9%) and South Dakota (8.5%).
The five states with the largest remaining peak-to-current declines, including distressed transactions, were Nevada (30.4%), Florida (28.5%), Arizona (25.3%), Rhode Island (23.6%) and Maryland (20.2%).
Peak home prices occurred in April 2006, and current prices remain 7% below that peak. Including distressed sales, CoreLogic forecasts national single-family home prices to reach a new peak in May 2017.
CoreLogic’s deputy chief economist said:
After nearly 10 years of very high home price volatility, home price increases have been remarkably stable for the last 15 months, ranging between a 4.8 percent and 6.5 percent year-over-year increase. Home price volatility is now back to the long-term trend prior to the boom and bust which is a good barometer of the market’s stability and health.
CoreLogic has forecast that home prices will dip 0.1% month over month in October and rise by 4.5% between September 2015 and September 2016. Both projections include distressed sales.
ALSO READ: The States With the Most Serial Murder
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.