by Calculated Risk on 11/05/2013 08:59:00 AM
Tuesday, November 05, 2013
CoreLogic: House Prices up 12.0% Year-over-year in September
Notes: This CoreLogic House Price Index report is for September. The recent Case-Shiller index release was for August. The CoreLogic HPI is a three month weighted average and is not seasonally adjusted (NSA).
From CoreLogic: CoreLogic Reports Home Prices Rise by 12 Percent Year Over Year in September
Home prices nationwide, including distressed sales, increased 12 percent on a year-over-year basis in September 2013 compared to September 2012. This change represents the 19th consecutive monthly year-over-year increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 0.2 percent in September 2013 compared to August 2013.
Excluding distressed sales, home prices increased on a year-over-year basis by 10.8 percent in September 2013 compared to September 2012. On a month-over-month basis, excluding distressed sales, home prices increased 0.3 percent in September 2013 compared to August 2013. Distressed sales include short sales and real estate owned (REO) transactions.
![CoreLogic House Price Index](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjS9yWNZzlO1PtQCemDV9GSKGHlkaJS1C3TrRDfXsCHpS0PurNDreHgDjCYqrzvSrNEtSgbkXYWhvv3VjL3ZjvRZDpZeip-LjIQo3kR94JrpeRXpu47U4CLaY-9Z6C7oGMLnF7I/s320/CoreLogicSept2013.jpg)
This graph shows the national CoreLogic HPI data since 1976. January 2000 = 100.
The index was up 0.2% in September, and is up 12.0% over the last year. This index is not seasonally adjusted, and the month-to-month changes will be smaller for next several months.
The index is off 17.5% from the peak - and is up 22.8% from the post-bubble low set in February 2012.
This is the largest year-over-year increase since 2006.
I expect the year-over-year price increases to slow in the coming months.