Home prices across the nation, as well as those in the greater New York City area, rose in November, according to the latest tallies from CoreLogic. U.S. prices — on a nine-month climb — rose 7.4 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 6.7 percent year-over-year in November.
“For the first time in almost six years, most U.S. markets experienced sustained increases in home prices in 2012,” said CoreLogic President and CEO Anand Nallathambi in the report. “We still have a long way to go to return to 2005-2006 levels, but all signals currently point to a progressive stabilization of the housing market and the positive trend in home price appreciation to continue into 2013.”
The New York/White Plains (N.Y.)/-Wayne (N.J.) region saw prices, including distressed sales, bump up 6.5 percent year-over-year in November. Excluding distressed sales, prices showed a 6.3 percent year-over-year gain. In the area, prices gained 2.9 percent month-over-month.
Overall, with the inclusion of distressed sales, Arizona saw the highest home price appreciation — 20.9 percent. In New Jersey, meanwhile, homes actually depreciated, some 0.5 percent, including distressed sales. —Zachary Kussin