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February 4, 2014

Triangle home prices rose in December

Home prices in the Triangle kept rising in December, according to a new report from data analysis provider CoreLogic.

Home prices in the Triangle kept rising in December, according to a new report from data analysis provider CoreLogic.

Home prices, including distressed sales, increased 6.1 percent in the Raleigh market and 6.3 percent in the Durham-Chapel Hill market in December compared with the same period a year ago, according to CoreLogic.

The Triangle price increases continue to be much smaller than those being reported nationwide. Prices increased 11 percent nationwide in November, the 22nd 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.

Still, 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.

There also continue to be signs that price increases in many markets may be be slowing, as CoreLogic said nationwide home prices decreased 0.1 percent between November and December.

During that same period, home prices in Raleigh increased 0.2 percent, and declined 1.2 percent in Durham-Chapel Hill.

Staff writer David Bracken

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