Corridor home prices rose in March

Home prices in the Corridor and the nation increased year-over-year in March.

Cedar Rapids home prices, including distressed sales, increased by 2.8 percent in March compared with the same month last year, according to CoreLogic of Irvine, Calif. Excluding distressed sales, year-over-year prices rose by 2.5 percent in March compared with March 2014.

'All signs are pointing toward continued price appreciation throughout 2015. In fact, the strong month-over-month gain in March may be a harbinger of accelerating price appreciation as we enter the spring selling season,” said Anand Nallathambi, president and CEO of CoreLogic, in a news release. 'Tight inventories, job growth and the inexorable impact of demographics and household formation are pushing up price levels in many states.”

On a month-over-month basis, Cedar Rapids home prices, including distressed sales, increased by 0.5 percent in March compared with February 2015. On a month-over-month basis, excluding distressed sales, Cedar Rapids home prices increased 0.4 percent in March compared with February 2015.

Iowa City home prices - including distressed sales - increased by 3.1 percent in March compared with March 2014. Excluding distressed sales, year-over-year prices rose by 3.4 percent in March compared with the same month in 2014.

On a month-over-month basis, Iowa City home prices - including distressed sales - increased by 0.3 percent in March compared with February 2015. On a month-over-month basis, Iowa City home prices - excluding distressed sales - decreased by 0.8 percent in March compared with February 2015.

Home prices nationwide - including distressed sales - increased 5.9 percent in March compared with March 2014. On a month-over-month basis, home prices nationwide - including distressed sales - increased by 2 percent in March compared with February 2015.