Corridor home prices rise in November

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

Cedar Rapids home prices, including distressed sales, increased by 2.1 percent in November compared with November 2013, according to CoreLogic of Irvine, Calif. Excluding distressed sales, year-over-year prices rose by 2.6 percent in November compared with November 2013.

On a month-over-month basis, Cedar Rapids home prices, including distressed sales, decreased by 0.9 percent in November compared with October 2014. On a month-over-month basis, excluding distressed sales, Cedar Rapids home prices slipped 0.9 percent in November compared with October 2014.

CoreLogic reported Iowa City home prices - including distressed sales - rose by 1.7 percent in November compared with November 2013. Excluding distressed sales, year-over-year prices increased by 2.7 percent in November compared with November 2013.

On a month-over-month basis, Iowa City home prices - including distressed sales - increased by 0.7 percent in November compared with October 2014. On a month-over-month basis, Iowa City home prices - excluding distressed sales - rose by 0.9 percent in November compared with October 2014.

Home prices nationwide - including distressed sales - increased 5.5 percent in November compared with November 2013. CoreLogic said the change represents 33 months of consecutive year-over-year increases.

On a month-over-month basis, home prices nationwide - including distressed sales - dropped by 0.1 percent in November compared with October 2014.

'The pace of home price gains slowed as we exited 2014, but this is probably only a temporary lull,” said Anand Nallathambi, president and CEO of CoreLogic. 'While the CoreLogic HPI Forecast shows a slight dip in prices in December, we believe that prices will be up a year from now as continued economic growth fuels buyer confidence.”