Home prices nationwide, as well as those in the New York City area, rose in September, according to a CoreLogic report released today. U.S. prices, including distressed sales, increased 5 percent year-over-year in September; that marks the biggest increase since 2006 — surpassing last month’s milestone.
September’s numbers also mark the seventh consecutive year-over-year increase in U.S. home prices. And excluding distressed sales, nationwide home prices also climbed 5 percent year-over-year.
“So far this year, we’re seeing clear signs of stabilization and improvement that show promise for a gradual recovery in the residential housing market,” said CoreLogic President and CEO Anand Nallathambi, in the report.
Month-over-month, however, including distressed sales, prices slipped 0.3 percent. Excluding them, prices rose 0.5 percent month-over-month.
The New York/White Plains (N.Y.)/-Wayne (N.J.) region also saw home-price increases. Including distressed sales, prices rose 3.1 percent in September year-over-year — the same year-over-year rise when excluding distressed sales in the region.
Month-over-month in the New York area, there was an 0.8 percent increase with the inclusion of distressed sales and a 1.4 percent uptick without them. — Zachary Kussin