The Real Deal New York

Home prices rise in U.S. and in NY region: CoreLogic

February 05, 2013 10:30AM

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Home prices are up

Home prices across the nation, as well as those in the greater New York City area, rose in December, according to the latest tallies from CoreLogic.

The New York/White Plains (N.Y.)/-Wayne (N.J.) region saw prices, including distressed sales, rise by 8.5 percent year-over-year in December. In the area, prices gained 1.7 percent month-over-month.

U.S. prices — on a ten-month climb — rose 8.3 percent year-over-year in November. This includes distressed sales, and represents the biggest increase since May 2006. Excluding distressed sales, U.S. home prices increased on a year-over-year basis by 7.5 percent.

“We are heading into 2013 with home prices on the rebound,” said Anand Nallathambi, president and CEO of CoreLogic. “The upward trend in home prices in 2012 was broad based with 46 of 50 states registering gains for the year. All signals point to a continued improvement in the fundamentals underpinning the U.S. housing market recovery.” –Hiten Samtani

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