logo
  Join        Login             Stock Quote

U.S. Home Prices In October Rise Most In 6 Years: Report

 December 04, 2012 01:28 PM


(By Balachander) Home prices in U.S. rose 6.3 percent in October 2012, the biggest jump since June 2006, in a sign the housing recovery continues to gain momentum, according to property information provider Corelogic Inc. (NYSE: CLGX).

CoreLogic Pending HPI, a metric that provides the most current indication of trends in home prices, expects home prices to increase 7.1 percent in November on a year-over-year basis.

"The recovery is geographically broad-based with almost all markets experiencing some appreciation," said Mark Fleming, chief economist for CoreLogic. "Sand and energy states continue to experience the most robust appreciation and some judicial foreclosure states are even recording increasing prices."

[Related -Over 1.3M Households Regain Positive Equity In Their Properties In H1: Report]

"We are seeing an ongoing strengthening of the residential housing market," said Anand Nallathambi, president and CEO of CoreLogic. "Reduced inventories and improving buyer demand are contributing to stability and growth in home prices which is essential to the long term health of the housing market and the broader economy."

On a month-over-month basis, including distressed sales, home prices fell by 0.2 percent in October 2012.

CoreLogic expects declines in month-over-month home prices, saying the housing market enters the offseason. On the same basis, November home prices are expected to fall by 0.3 percent.

Excluding distressed sales, CoreLogic expects November house prices to increase 7.4 percent from November 2011 and by 0.5 percent from October 2012.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageChipotle Mexican Grill, Inc. (CMG) Q2 Earnings Preview: Will Higher Traffic Offset Higher Costs the Key

Chipotle Mexican Grill, Inc. (NYSE:CMG) will host a conference call to discuss second quarter 2014 read on...

article imageNetflix, Inc. (NFLX) Q2 Earnings Preview: The Ruby Month for a Reason

Netflix, Inc. (NASDAQ:NFLX) will post its second-quarter 2014 financial results and business outlook on its read on...

article imageLadenburg Thalmann Financial Services (NYSEMKT:LTS): Heavy, Durable Insider Buying

Ahh, but any worries over price levels didn’t stop multiple insiders at Ladenburg Thalmann Financial read on...

article imageInternational Business Machines Corp. (IBM) Q2 Earnings Preview: Small Beat and Pop

International Business Machines Corp. (NYSE:IBM) will host a conference call Wednesday, Jul. 16, 2014 at read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.