IE Business Daily Business news for the Inland Empire.
Single-family home prices in the Inland Empire, including distressed sales, increased 6.3 percent in March year-over-year, according to data released Tuesday.
Month-over-month the increase in prices for Riverside and San Bernardino counties was negligible – 0.4 percent – Irvine-based CoreLogic reported in its monthly Home Price Index and HPI Forecast.
Nationwide, home prices increased 6.7 percent in March compared with March 2015. Month-over-month the increase was a more modest 2.1 percent. California home prices were up 6.2 percent year-over-year.
“Home prices reached the bottom five years ago, and since then have appreciated almost 40 percent,” said Anand Nallathambi, president and CEO of CoreLogic, in a statement. “The highest appreciation was in the west, where prices continue to increase at double-digit rates.”
CoreLogic is predicting a 5.3 percent increase in housing prices nationwide between March of this year and March 2016.
