Home Prices Move Up
In a report out today from CoreLogic, a real estate data collection firm, it showed that home prices in the United States increased in January after declining for the last three months of 2013.
Nationwide prices rose 0.9 percent in January. So, for the past 12 months, the report states that home prices and increased by 12%, which was the best year-over-year gain in more than 12 years!
CoreLogic’s report does not factor in seasonal patterns and therefore some suggest it may not be as accurate as other real estate data sources.
The Standard & Poor’s/Case-Shiller 20-city home price index, which many consider the gold standard for real estate reports, actually showed a decline for December home prices.
For me personally, one thing seems quite clear, the robust bounce back appreciation in home prices, we experienced in 2013 will not recur this year! As I said before in other post, my feeling is that San Diego home price appreciation for 2014 will be at a modest single-digit figure.
