IE Business Daily Business news for the Inland Empire.
The price of a single-family home in the Inland Empire rose 5.7 percent year-over-year in December, according to data released Tuesday.
Inland Empire home prices were also up slightly – 0.3 percent – compared with November, Irvine-based CoreLogic stated in its monthly report on national home sales in major metropolitan areas.
Both of those figures include distressed sales, which generally happen under one of two conditions: to raise money quickly to pay debts, or when a homeowner can no longer make mortgage payments.
Nationwide, home prices were up 6.3 percent in December compared with one year earlier.
Prices have risen about five to six percent every month for more than a year, even as some markets have seen their home prices vary greatly during that time, said Frank Nothaft, CoreLogic’s chief economist, in a statement.
December home prices rose 0.8 percent compared with November 2015, CoreLogic reported.
