News & trendsMarket conditions

Chicago-area home price increases outpace national average

by Joe Zekas on 8/6/14

CoreLogic released its June Home Price Index (HPI) report yesterday. Home prices nationwide, including distressed sales, increased 7.5 percent in June 2014 compared to June 2013. This change represents 28 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased 1.0 percent in June 2014 compared to May 2014.*
CoreLogic

In Chicago-Naperville-Arlington Heights, home prices, including distressed sales, increased by 7.9 percent in June 2014 compared to June 2013. On a month-over-month basis, home prices, including distressed sales, increased by 2.1 percent in June 2014 compared to May 2014.

Excluding distressed sales, year-over-year prices increased by 8.0 percent in June 2014 compared to June 2013. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI indicates home prices increased by 1.4 percent in June 2014 compared to May 2014.

CoreLogic is projecting that home price increases will moderate nationwide. Excluding distressed sales, home prices are expected to rise 0.6 percent month over month from June 2014 to July 2014 and by 5 percent year over year from June 2014 to June 2015.

Free registration is required to access the full report at CoreLogic.

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