CoreLogic Finds Valley House Prices Drop Slightly
IRVINE, Calif. -- House prices in the Youngstown-Warren-Boardman area dropped from December 2012 to December 2013, CoreLogic reports. Including distressed sales, prices fell 1.2%, and by 0.3% from November 2013 to December 2013.
Distressed sales include short sales and real estate owned transactions.
Month-over-month, house prices, including distressed sales, fell 0.3%% in December from November. Excluding distressed sales, prices rose 1.6%.
Across Ohio, house prices (including distressed sales) rose 3.4% year over year; excluding distressed sales, prices climbed 4.3%. In Pennsylvania, prices increased 3.3% including distressed properties and 3.9% when they’re excluded.
Nationwide, including distressed sales, prices increased 11% in December compared to December 2012. This change represents the 22nd consecutive monthly year-over-year increase. Month-over-month, house prices nationwide, including distressed sales, fell 0.1% in December from November.
Excluding distressed sales, house prices rosw 9.9% in December compared to December 2012 and 0.2% month over month compared to November.
January house prices, including distressed sales, are projected to increase 10.2% year over year from January 2013. Month-over-month, house prices are expected to dip 0.8% from December 2013 to January. Excluding distressed sales, January house prices are poised to rise 9.7% year over year from January 2013 and 0.2% month over month from December 2013.
"Last year, home prices rose 1%, the highest rate of annual increase since 2005, and 10 states and the District of Columbia reached new all-time price peaks," said Mark Fleming, chief economist for CoreLogic, in a prepared statement. "We expect the rising prices to attract more sellers, unlocking this pent-up supply, which will have a moderating effect on prices in 2014."
Published by The Business Journal, Youngstown, Ohio.
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