National home prices ended the year by posting their biggest annual gain since May 2006, and prices rose in December for the 10th consecutive month, CoreLogic reported Tuesday.
The data provider’s Home Price Index (HPI) registered a year-over-year increase of 8.3 percent in December when including distressed sales. From November to December, prices barely moved higher, increasing just 0.4 percent.
In January, the forward looking Pending HPI projects prices will rise 7.9 percent on a yearly basis in January, but fall by 1 percent on a monthly basis due to the typical seasonal decline.
“We are heading into 2013 with home prices on the rebound,” said Anand Nallathambi, president and CEO of CoreLogic. Read more.....
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