Home Prices Rise for 32nd Month: Core Logic

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Home prices rose 6.1% in October from a year earlier, representing 32 consecutive months of appreciation, according to data released Tuesday by CoreLogic.

The Irvine, Calif.-based data firm said that prices increased in all states. Twenty seven states reached price levels within 10% of their historical peaks, while nine states including Colorado, New York and Texas reached new highs.

“The gradual recovery of the housing market continues to be propelled by improving employment, more buyer and seller confidence, continued low rates and, in certain parts of the country, investor demand,” said Anand Nallathambi, CoreLogic’s president and chief executive, in a press release.

Additionally, home prices in most of the country are expected to return to pre-crisis levels in mid-2015, Nallathambi said.

Article source: http://www.nationalmortgagenews.com/news/origination/home-prices-rise-for-32nd-month-core-logic-1043260-1.html

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