REAL ESTATE NEWS

HOME PRICES RISE YEAR OVER YEAR IN MARCH
Home prices nationwide, including distressed sales, increased 11.1 percent in March 2014 compared to March 2013, according to the March issue of the CoreLogic Home Price Index (HPI) report. This change represents 25 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased 1.4 percent in March 2014 compared to February 2014.

Excluding distressed sales, home prices nationally increased 9.5 percent in March 2014 compared to March 2013 and 0.9 percent month over month compared to February 2014. Distressed sales include short sales and real estate owned (REO) transactions.

The CoreLogic HPI Forecast indicates that home prices, including distressed sales, are projected to increase 0.8 percent month over month from March 2014 to April 2014 and 6.7 percent from March 2014 to March 2015. Excluding distressed sales, home prices are expected to rise 0.6 percent month over month from March 2014 to April 2014 and 5.7 percent year over year from March 2014 to March 2015. The CoreLogic HPI Forecast is a monthly forecast built on the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices by the number of owner-occupied households for each state.

Highlights as of March 2014:

• Including distressed sales, the five states with the highest home price appreciation were California, 17.2 percent; Nevada, 15.5 percent; Georgia, 12.4 percent; Hawaii, 12.3 percent; and Oregon, 12.2 percent.
• Excluding distressed sales, the five states with the highest home price appreciation were California, 13.2 percent; Nevada, 11.8 percent; Florida, 10.9 percent; Maine, 10.6 percent; and Hawaii, 10.6 percent.

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