CoreLogic Reports Local Home Prices Increase in June

YOUNGSTOWN, Ohio – The sale price of existing homes in the Youngstown-Warren-Boardman statistical area, including distressed sales, increased by 1.5% during the month of June from a year earlier, reports the California-based financial analytics firm CoreLogic.

Distressed sales include short sales and real estate-owned transactions.

On a month-over-month basis, local home prices, including distressed sales, increased by 2.2% in June compared with May. Statewide prices, including distressed sales, increased by 3.7% from 2014 to 2015 and by 2.2% in Pennsylvania.

On a month-over-month basis, excluding distressed sales, local home prices decreased by 1.1% in June compared with the previous month.

Including distressed sales, CoreLogic said 35 states and the District of Columbia were at or within 10% of their peak prices in June. Fifteen states and the District of Columbia reached new price peaks: Alaska, Arkansas, Colorado, Hawaii, Iowa, Kentucky, Nebraska, New York, North Carolina, North Dakota, Oklahoma, South Dakota, Tennessee, Texas and Wyoming.

“The current cycle of home price appreciation is closing in on its fourth year with no apparent end in sight,” said Anand Nallathambi, president and CEO of CoreLogic. “Pent-up buying demand and affordability, together with higher consumer confidence buoyed by a more robust labor market, are a potent mix fueling a 6.5 % jump in home prices through June with more increases likely to come.”

Copyright 2024 The Business Journal, Youngstown, Ohio.