Cary News

April 3, 2014

Triangle home prices kept rising in February, according to report

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

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

Home prices, including distressed sales, increased 7.5 percent in the Raleigh market and 9.2 percent in the Durham-Chapel Hill market in February compared with the same period a year ago, according to CoreLogic.

Prices increased 12.2 percent nationwide in February, the 24th 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.

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.

While most measurements are now showing that prices are rising in the Triangle, the amount of appreciation varies.

The average sales price of the Triangle homes that sold in February was $241,000, up 10 percent compared with the same period last year, according to Triangle Multiple Listing Services. Most other price measurements put the region’s rate of appreciation at between 3 percent and 6 percent.

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