Home prices increased in September in Raleigh and fell slightly in the Durham-Chapel Hill area compared with the same period last year, according to a new report from data analysis provider CoreLogic.
Home prices, including distressed sales, increased 3.7 percent in the Raleigh market. In the Durham-Chapel Hill area, prices fell 1 percent.
Prices increased 5.6 percent nationwide in September, the 31st consecutive month that home prices have risen, according to CoreLogic. CoreLogic uses a repeat-sales index that tracks increases and decreases in prices for the same homes over time.
The year-over-year gains in most markets have been shrinking in recent months. The Durham-Chapel Hill market has seen prices decline for four straight months, according to CoreLogic.
Triangle homeowners shouldn't assume that their homes have appreciated or depreciated by the levels being reported by CoreLogic or other data providers. Price fluctuations vary depending on location, price point and other factors.
While some measurements still show that prices are rising in the Triangle, the amount of appreciation varies. The average price of homes that sold during the third quarter in the Triangle rose 3 percent to $257,300, according to Triangle Multiple Listing Services.