Chicago-area home prices up 3.8% year-over-year

According to the recently-released CoreLogic Home Price Index (HPI) report, home prices nationwide, including distressed sales, increased 5.5 percent in November 2014 compared to November 2013. This change represents 33 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, rose by 0.1 percent in November 2014 compared to October 2014.*

Excluding distressed sales, home prices nationally increased 5.3 percent in November 2014 compared to November 2013 and 0.3 percent month over month compared to October 2014.

In Chicago – Naperville – Arlington Heights, home prices, including distressed sales, increased by 3.8 percent in November 2014 compared to November 2013. On a month-over-month basis, home prices, including distressed sales, decreased by 1.3 percent in November 2014 compared to October 2014. Excluding distressed sales, year-over-year prices increased by 3.2 percent in November 2014 compared to November 2013. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI indicates home prices decreased by 0.5 percent in November 2014 compared to October 2014.

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