Home prices rise in Corridor, U.S.

CEDAR RAPIDS - Home prices in the Corridor and the nation increased year-over-year in September, but the rate of growth appears to be slowing.

Cedar Rapids home prices, including distressed sales, increased by 2.7 percent in September compared with September 2013, according to CoreLogic of Irvine, Calif., a provider of property information, analytics and data-enabled services. Excluding distressed sales, year-over-year prices increased by 3 percent in September compared with September 2013.

On a month-over-month basis, Cedar Rapids home prices, including distressed sales, decreased by 0.5 percent in September compared with August 2014. On a month-over-month basis, excluding distressed sales, Cedar Rapids home prices decreased by 0.3 percent in September compared with August 2014.

CoreLogic reported Iowa City home prices - including distressed sales - increased by 1.7 percent in September compared with September 2013. Excluding distressed sales, year-over-year prices increased by 1.6 percent in September compared with September 2013.

On a month-over-month basis, Iowa City home prices - including distressed sales - decreased by 0.6 percent in September compared with August 2014. On a month-over-month basis, Iowa City home prices - excluding distressed sales - declined by 0.5 percent in September compared with August 2014.

Home prices nationwide - including distressed sales - increased 5.6 percent in September compared with September 2013. CoreLogic said the change represents 31 months of consecutive year-over-year increases in home prices nationally.

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

'Home prices continue to rise compared with this time last year but the rate of growth is clearly slowing,” said Anand Nallathambi, president and CEO of CoreLogic. 'With more positive macroeconomic trends emerging in the U.S., we are forecasting moderate price growth for 2015.”