CoreLogic is reporting home prices increased almost 10 percent so I compare this to Upstate South Carolina…
Earlier this week CoreLogic reported that US home prices increased 9.7% year-over-year (including distressed sales such as foreclosures). On a month-over-month basis, including distressed sales, home prices increased by 0.7% in January 2013 compared to December 2012. If we look at CoreLogic’s number that do NOT include distressed sales, home prices increased 9% YOY and 1.8% MOM.
This is the 11th consecutive month of month-over-month increases in existing-home sales according to CoreLogic.
Anand Nallathambi, president and CEO of CoreLogic said:
Home prices continued to gather steam across a broad swath of the country in January, continuing the positive trend we saw during most of 2012 . Many states across the western U.S. and along the East Coast saw average price gains of more than 6 percent, which is likely to boost home sale activity into the first half of 2013.
Wow, that sounds good. Well unless you have delayed buying a home because you just knew home prices were going to fall more. Of course, CoreLogic is talking about the entire US. So let’s look at house prices in Upstate South Carolina:
Now those are the numbers for the entire WUAR MLS from the Market Reports on this website. You really must look at similar homes that have sold recently in the same area to get an accurate idea of your homes value. And there are other factors to consider also when selling your home, such as the active listings and even the homes that were recently withdrawn.