Index Shows January Gain in Valley House Prices

YOUNGSTOWN, Ohio  – House prices in the Youngstown-Warren-Boardman area, including distressed sales, increased by 3.8% in January compared with a year earlier, CoreLogic reports.

The California-based financial services firm also says house prices, including distressed sales, decreased by 0.8% in January compared with December 2015.

Nationwide house prices, including distressed sales, increased 6.9% in January 2016 compared with January 2015 and increased 1.3% in January compared with December 2015, according to the CoreLogic Home Price Index.

The index also forecasts that home prices nationally will increase by 5.5% from January 2016 to January 2017, and by 0.5% from January 2016 to February 2016.

“While the national market continues to steadily improve, the contours of the home price recovery are shifting,” said Dr. Frank Nothaft, chief economist for CoreLogic. “The Northwest and Rocky Mountain states have experienced greater appreciation and account for four of the top five states for home price growth.”

“Heading into the spring buying season, home prices continue to rise across much of the country,” said Anand Nallathambi, president and CEO of CoreLogic. “With rates staying low for now and continued solid job and income growth, the spring buying season is shaping up to be a good one.”

Copyright 2022 The Business Journal, Youngstown, Ohio.