Corridor home prices again rise in April

Continuing a trend seen in recent months, home prices in the Corridor and the nation rose year-over-year in April.

Cedar Rapids home prices, including distressed sales, increased by 2.5 percent in April compared with the same month last year, according to CoreLogic of Irvine, Calif. Excluding distressed sales, year-over-year prices rose by 2.7 percent in April compared with April 2014.

'Old fashion supply and demand, fueled by historically low mortgage rates and improving consumer finances and confidence, continue to push home prices up,” said Anand Nallathambi, president and CEO of CoreLogic, in a release. 'We expect continued price appreciation throughout 2015 and into next year.

'Over the longer term, household formation, up by more than one million over the past year alone, will drive down vacancy rates and create tighter housing markets in many metropolitan areas.”

On a month-over-month basis, Cedar Rapids home prices, including distressed sales, increased by 1.1 percent in April compared with March. On a month-over-month basis, excluding distressed sales, Cedar Rapids home prices increased 0.9 percent in April compared with March.

Iowa City home prices - including distressed sales - increased by 2.1 percent in April compared with April 2014. Excluding distressed sales, year-over-year prices rose by 2.6 percent in April compared with the same month in 2014.

On a month-over-month basis, Iowa City home prices, including distressed sales, increased by 1.1 percent in April compared with March 2015. On a month-over-month basis, Iowa City home prices - excluding distressed sales - increased by 1.1 percent in April compared with March 2015.

Home prices nationwide - including distressed sales - increased 6.8 percent in April compared with April 2014. On a month-over-month basis, home prices nationwide - including distressed sales - increased by 2.7 percent in April compared with March 2015.