Home prices nationally rose 11% from December 2012 to December 2013, according to the CoreLogic Home Price Index for December 2013.
Today, CoreLogic reported that December 2013 national home prices increased 11 percent year over year, but decreased 0.1 percent month over month from November. This marks the 22nd consecutive month of year-over-year increases in the CoreLogic Home Price Index (HPI). Excluding distressed sales, home prices increased 9.9 percent from a year ago and increased 0.2 percent from the prior month.
Locally, Nevada was both the best and the worst depending on the measure. The report indicates the Silver State had the highest annual appreciation at 23.9%.
Including distressed sales, year-over-year home prices were up in 47 states and the District of Columbia, with only Arkansas, New Mexico and Mississippi showing price decreases. Nevada led the country with a 23.9 percent price increase from December 2012.
However, Nevada remains the furthest from its pre-recession peak in home prices.
Nebraska, North Dakota and Texas reached new highs in home prices, and the District of Columbia was within a tenth of a percent of its peak. Conversely, despite rapid appreciation, Nevada remained at 40.6 percent below its peak in 2006, followed by Florida (-37.6 percent).
CoreLogic also reports that, like Nevada, “some of the states now growing the fastest also fell the farthest in the housing crisis.”
The report also predicted home prices would increase by 10.2% nationally on a year-over-year basis in January.