IE Business Daily Business news for the Inland Empire.
Single-family home prices increased six percent in the Inland Empire in November year-over-year, according to data released Tuesday.
Compared with October 2015, home prices in Riverside and San Bernardino counties were down 0.2 percent, Core Logic reported in its monthly Home Price Index and HPI Forecast.
Both of those numbers include distressed sales, meaning properties that are sold urgently, often for a loss, so that the property owner may raise money quickly.
Nationally, home prices – including distressed sales – were up 6.3 percent year-over-year in November and were down 0.5 percent compared with October 2015.
National home prices are expected to increase 5.4 percent year-over-year next November, and prices are expected to be flat between November and December of last year, the forecast stated.
