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January 7, 2014

Triangle home prices kept climbing in November, according to new report

Home prices in the Triangle continued to rise in November, according to a new report from data analysis provider CoreLogic.

Home prices in the Triangle continued to rise in November, according to a new report from data analysis provider CoreLogic.

Home prices, including distressed sales, increased 6 percent in both the Raleigh-Cary market and the Durham-Chapel Hill market in November compared with the same period a year ago, according to CoreLogic.

The Triangle price increases remain much smaller than those being reported nationwide. Prices increased 11.8 percent nationwide in November, the 21st consecutive month that home prices have risen.

CoreLogic uses a repeat-sales index that tracks increases and decreases in prices for the same homes over time, which it claims provides a more accurate view of pricing trends.

But Triangle homeowners shouldn’t assume that their homes have appreciated by the levels being reported by CoreLogic and other data providers. Price fluctuations vary depending on location and price point, with lower-price homes in attractive neighborhoods benefiting the most during the recovery.

In a sign that price increases in many markets could be slowing, CoreLogic said nationwide home prices increased just 0.1 percent between October and November.

During that period, home prices in Cary-Raleigh decreased 0.1 percent, and they were flat in Durham-Chapel Hill.

Staff writer David Bracken

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