Home Prices Up 6.3 Percent YoY in November

Home price increases are showing no signs of abating, according to CoreLogic’s data covering November 2015 and forecasting the coming year.

November’s home prices, including distressed sales, took a healthy 6.3 percent leap on a year-over-year basis and a modest 0.5 percent uptick from the previous month. While CoreLogic forecast that home prices would remain flat going into December 2015, the company predicted a 5.4 percent year-over-year increase from November 2015 to November 2016. However, the company noted that some markets will significantly outperform others.

“Heading into 2016, home price growth remains in its sweet spot as prices have increased between five and six percent on a year-over-year basis for 16 consecutive months,” said Frank Nothaft, chief economist for CoreLogic. “Regionally we are beginning to see fissures, with slowdowns in some Texas and California markets, but the northwest and southeast remain on solid footing.”