Home Prices Continue Moving on Up

According to CoreLogic, U. S. home prices increased in January by the strongest margin in seven years, up 12 percent from the previous Jan., marking the 23rd consecutive month of yearly increases, worldpropertychannel.com reports. Said Dr. Mark Fleming, chief economist for CoreLogic, “The last time January month-over-month and year-over-year price appreciation was this strong was at the height of the housing bubble in 2006.” The National Association of Realtors (NAR) says the national median home price rose 10.7 percent in Jan. over Jan. 2013, hitting $188,900, as MHProNews.com has learned. Predicting home prices, including distressed sales, will rise 12.5 percent year-over-year in Feb., Anand Nallathambi, president and CEO of CoreLogic, says, “Excluding distressed sales, all 50 states and the District of Columbia showed year-over-year home price appreciation for January.”

(Image credit: etftends.com)

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