Home Prices Rise 7.2% in Youngstown-Warren-Boardman
IRVINE, Calif. -- Home prices in the Youngstown-Warren-Boardman area were 7.2% higher in November 2012 compared to November 2011, according to the CoreLogic Home Price Index.
On a month-over-month basis, home prices, including distressed sales, fell 0.3% in November compared to October 2012.
The figures include distressed sales.
Nationwide, home prices, including distressed sales, increased year-over-year by 7.4% in November compared to November 2011. This change represents the biggest increase since May 2006 and is the ninth consecutive increase in home prices nationally year-over-year. On a month-over-month basis, including distressed sales, home prices rose 0.3% in November compared to October. All but six states are experiencing year-over-year price gains.
Excluding distressed sales, home prices nationwide increased year-over-year by 6.7% in November compared to November 2011. Month-over-month, excluding distressed sales, home prices increased 0.9% in November compared to October. Distressed sales include short sales and real estate owned transactions.
The CoreLogic Pending index indicates that December home prices, including distressed sales, should rise 7.9% year-over-year from December 2011 and fall by 0.5% on a month-over-month basis from November 2012, reflecting a seasonal slowdown. Excluding distressed sales, December house prices are poised to rise 8.4% year-over-year from December 2011 and by 0.7% month-over-month from November 2012.
Published by The Business Journal, Youngstown, Ohio.
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