Home Prices Rise Year Over in January

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Home Prices RiseHome Prices Rise Year Over Year in January


CoreLogic released its January CoreLogic Home Price Index (HPI) report, which shows that home prices nationwide, including distressed sales, increased 12 percent in January compared with the previous year. This change represents 23 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased 0.9 percent in January 2014 compared with December 2013.

At the state level, including distressed sales, Louisiana, Nebraska, and Texas surpassed their previous home price peaks in January 2014. In all, 22 states and the District of Columbia are at or within 10 percent of their peak home price appreciation. Additionally, over the past year, seven states equaled or grew faster than the nation as a whole, including Nevada, California, Oregon, Michigan, Georgia, Arizona, and Florida.

xcluding distressed sales, home prices nationally increased 9.8 percent in January 2014 compared to January 2013 and 0.7 percent month over month compared to December 2013.  Distressed sales include short sales and real estate owned (REO) transactions.

Highlights as of January 2014:

  • Including distressed sales, the five states with the highest home price appreciation were Nevada 22.2 percent; California, 20.3 percent; Oregon, 14.3 percent; Michigan, 13.7 percent; and Georgia, 13.4 percent.
  • Excluding distressed sales, the five states with the highest home price appreciation were Nevada, 17.2 percent; California, 16 percent; Florida, 12.7 percent; Arizona, 11.5 percent; and Oregon, 11.4 percent.

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