IE Business Daily Business news for the Inland Empire.
U.S. single-family home prices continued to rise during the end of last year.
Prices were up 5.5 percent last November compared with November 2013, a figure that includes distressed home sales, according to data released Tuesday by CoreLogic in Irvine.
That marks 33 consecutive months of year-over-year increases in home prices nationally. Month-over-month, home prices – not counting distressed sales – rose only 0.1 percent in November.
Home prices in the Inland Empire rose 7.4 percent between November 2014 and November 2013, including distressed sales. That was the fourth-largest increase of any major metropolitan area in the United States during that time, according to the CoreLogic Home Price Index.
Los Angeles-Long Beach-Glendale ranked third, with an eight percent increase including distressed sales. December sales, including distressed properties, are expected to be up 4.6 percent year-over-year, the report stated.
CoreLogic provides financial and property information and customized data to approximately 40,000 public and private clients worldwide, according to the company’s website.
