Featured Properties

163 Malts AveWest Islip, NY 11795
Single Family
  • Bed:4
  • Bath:2
  • MLS#: 2670067

This Home Boasts Extra Large Foyer With Vaulted Ceilings, Large Family Room And Spacious Eik, Gleaming Hardwood Floors Throughout. All Bedrooms Are Oversize, Master Bedroom Has Vaulted Ceilings And ...Read More



Massachusetts - Pennsylvania

Connecticut - Maryland

Home prices post 30th straight year-over-year gain in August

Analysts expect continued increases, but at a slower pace

By James Limbach

Home prices -- including distressed sales -- posted a year-over-year gain of 6.4% in August.

Property information provider CoreLogic says it's the 30th month of consecutive year-over-year increases by its Home Price Index (HPI). On a month-over-month basis, home prices nationwide inched up 0.3%.

At the state level, all states showed year-over-year home price appreciation in August. In addition, the HPI reached new highs in a total of 9 states -- Alaska, Colorado, Iowa, Louisiana, Nebraska, North Dakota, Oklahoma, Texas and Wyoming -- plus the District of Columbia.

Excluding distressed sales, which include short sales and real estate owned (REO) transactions, home prices nationally increased 5.9% year-over-year and 0.3% month-over-month.

"The pace of year-over-year appreciation continues to slow down as real estate markets find more balance,”said Mark Fleming, chief economist at CoreLogic. “Home price appreciation reached a peak of almost 12% year-over-year in October 2013 and has since subsided to the current pace of 6%t. Continued moderation of home price appreciation is a welcomed sign of more balanced real estate markets and less pressure on affordability for potential home buyers in the near future."

August highlights

·        Including distressed sales, the 5 states with the highest home price appreciation were: Michigan (+11.1%), California (+9.2%), Nevada (+9.2%), Maine (+9%) and West Virginia (+8.7%).

·        Excluding distressed sales, the 5 states with the highest home price appreciation were: Massachusetts (+9.4%), Maine (+9.3%), West Virginia (+8.9%), Hawaii (+8.7%) and South Carolina (+8.1%).

·        Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to August 2014) was -12.1%. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -8.6%.

·        The 5 states with the largest peak-to-current declines, including distressed transactions, were: Nevada (-36.2%), Florida (-33.4%), Arizona (-28.9%), Rhode Island (-26.8%) and Maryland (-20.2%).

·        Including distressed sales, the U.S. has experienced 30 consecutive months of year-over-year increases; however, the national average is no longer posting double-digit increases.

·        Ninety-eight of the top 100 Core Based Statistical Areas (CBSAs) measured by population showed year-over-year increases in August 2014. The two CBSAs that did not show an increase were Rochester, N.Y. and Little Rock-North Little Rock-Conway, Ark.

Looking ahead

The CoreLogic HPI Forecast indicates home prices -- including distressed sales -- will increase 0.2 percent% over month from August 2014 to September 2014 and, on a year-over-year basis, by 5.2%.

Excluding distressed sales, home prices are expected to rise 0.2% month over month and by 4.7% year over year.  

Gladstone Group

Business:(631) 425-6150

We Speak Your Language!