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CoreLogic released on Tuesday its Home Price Index for December, noting an 11% bump year-over-year. According to the company, it was the highest annual rate of increase since 2005, pushing 10 states and the District of Columbia to new all-time price peaks.
Out of the 47 states reporting price appreciation in December, Nevada ranked highest for another month, posting annual growth of nearly 24%. Following that were California, Michigan, Oregon, and Georgia, with price increases ranging from 12% to 20%. Only three states experienced price declines compared to December 2012: Arkansas, New Mexico, and Mississippi.
A survey of potential home sellers in the first quarter finds many face the same issues that current buyers are grappling with. In a survey released by Redfin Tuesday, 29% of homeowners cited low inventory as one of the concerns they have about listing their house, while 27% said heightened competition has made them doubtful about finding a new home. Another common answer among respondents was the difficulty buyers are currently having getting financing.
