Home prices across the nation, as well as those in Florida, rose in December, according to the latest tallies from CoreLogic.
Florida saw single-family prices, including distressed sales, rise by 9.2 percent year-over-year in December. However, Florida also saw one of the largest peak to current declines in the nation, with prices falling 43.5 percent, indicating that Florida still offers some of the most affordable real estate in the U.S.
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