Housing Prices Increase

Last month housing prices moved up the most in Colorado and Washington. The year over year price increases for Colorado were 10.4% and in Washington state home prices increased on a year-over-year basis in December I 10.3%. Yes, Colorado and Washington state posted the largest year-over-year housing price increases for the United States.

The best housing price increases on a year-over-year basis as of December 2015, after Colorado and Washington, were followed by Oregon which showed a 9.1% increase, Iowa with an 8.6% increase and Nevada with an 8% increase.

Now, when you exclude distressed properties from the December housing price data, the states with the largest year-over-year price increases does change slightly. In order of the best twelve-month housing price increase, Colorado still remains first, but now with a slightly lower average 9.7% increase. Also, Washington State and Oregon retain their second and third positions but now with 9.5% increase for Washington and a 9.3% increase for Oregon. In fourth position we now have New York State at 8.5%, followed by Nevada at 8.3%.

On a national basis housing prices have been going up approximately 5 to 6% annually for more than a year. Naturally when looking at national housing price statistics one should keep in mind that many metropolitan areas have widely varying housing price statistics. There are metropolitan areas that have had double-digit appreciation like Denver Colorado and Naples Florida. But, other metropolitan areas such as New Orleans Louisiana and Rochester New York experienced home price declines donations

 Some economic forecasters are predicting that home prices will rise just 2/10 of a percent this month, and possibly increase 5.4% for the period between December 2015 and December 2016. These projections include distressed home sales.

For additional information, see: CoreLogic US Home Price Report

Housing Prices Increase