IE Business Daily Business news for the Inland Empire.
Home prices, including distressed sales, rose 6.1 percent in the Inland Empire year-over-year in November, according to data released Tuesday.
That was exactly one percent below the national rate of 7.1 percent, Irvine-based CoreLogic reported.
Month-over-month, home prices in Riverside and San Bernardino counties were virtually unchanged, up only 0.4 percent from October.
“Home prices continue to march higher, with home prices in 27 states above their pre-crisis peak levels,” said Anand Nallathambi, CoreLogic’s president and chief executive officer, in a statement. “Nationally, the CoreLogic Home Price Index remains four percent below its April 2006 peak, but [it] should surpass that peak by the end of 2017.”
Nationwide, home prices are expected to increase 4.7 percent between November of last year and November 2017.
