Chicago-area home prices continue to rise year-over-year

Home prices nationwide, including distressed sales, increased 5.6 percent in September 2014 compared to September 2013, according to the just-released CoreLogic Home Price Index (HPI). This change represents 31 months of consecutive year-over-year increases in home prices nationally.

“Home prices continue to rise compared with this time last year but the rate of growth is clearly slowing as we exit 2014,” said Anand Nallathambi, president and CEO of CoreLogic. “With more positive macro-economic trends emerging in the U.S., we are forecasting moderate price growth for 2015.”

In the Chicago metro area, home prices, including distressed sales, increased by 4.9 percent in September 2014 compared to September 2013. On a month-over-month basis, home prices, including distressed sales, decreased by 0.1 percent in September 2014 compared to August 2014.

Excluding distressed sales, year-over-year prices increased by 4.5 percent in September 2014 compared to September 2013. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI indicates home prices increased by 0.2 percent in September 2014 compared to August 2014.

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