Properties in Orlando, FL

Properties in Orlando FL -area home prices increase in December

Home prices in the Orlando-Kissimmee-Sanford area — including distressed sales — increased by 3.5 percent in December compared to the year-ago period, CoreLogic reports.

On a month-over-month basis, home prices decreased by 0.2 percent in December 2014 compared to November.

Excluding distressed sales Properties in Orlando, FL, year-over-year prices increased by 4.8 percent in December 2014 compared to December 2013. On a month-over-month basis, excluding distressed sales, home prices decreased by 0.2 percent in December 2014 compared to November 2014.

Nationwide, home prices increased 5 percent in December over the year-ago period. On a month-by-month basis, prices fell by 0.1 percent in December compared to November.

“Nationally, home price appreciation took a pause in November and December 2014 and we expect a slow start to 2015,” said Anand Nallathambi, president and CEO of CoreLogic. “As the year progresses, we expect upward pressure as low inventories and more first-time buyers drive up home prices.”

Other findings from the report:

• Including distressed sales, the five states with the highest home price appreciation were Colorado (+8.4 percent), Texas (+7.8 percent), New York (+7.6 percent), Nevada (+7.3 percent) and Michigan (+7.2 percent).
• Excluding distressed sales, the five states with the highest home price appreciation were New York (+8.0 percent), Colorado (+7.8 percent), Massachusetts (+7.2 percent), Texas (+7.1 percent) and Nevada (+7.1 percent).
• The five states with the largest peak-to-current declines, including distressed transactions, were: Nevada (-36 percent), Florida (-33.5 percent), Arizona (-29.5 percent), Rhode Island (-29.1 percent) and Connecticut (-25.2 percent).
• Including distressed sales, the U.S. has experienced 34 consecutive months of year-over-year increases; however, the national increase is no longer posting double-digits.
• Eighty-nine of the top 100 Core Based Statistical Areas measured by population showed year-over-year increases in December 2014.

Source1: Orlando Business Journal