CoreLogic (NYSE: CLGX) a leading provider of information, business services and analytics released its October 2012 report comparing it to October 2011.  It noted home prices nationwide, including distressed sales, increased on a year over year basis by 6.3 percent.  This change signifies the biggest increase since June of 2006.  It is also the eighth consecutive increase in home prices nationally on a year-by-year basis. www.corelogic.com

Anand Nallathambi, President and CEO of CoreLogic, stated, “We are seeing an ongoing strengthening of the residential housing market. Reduced inventories and improving buyer demand are contributing to stability and growth in home prices which is essential to the long term health of the housing market and the broader economy.”  Core Logic’s Pending HPI indicates that November 2012 prices are expected to rise 7.1 percent on a year-over-year basis from November 2011.  “The housing recovery that started earlier in 2012 continues to gain momentum,” according to chief economist for CoreLogic, Mark Fleming.  It is anticipated that almost all markets will experience some appreciation.  

Five states experienced yearly price decreases.  Among them, Illinois and Delaware tied with the biggest losses, each seeing 2.7 percent price declines. New Jersey and Rhode Island followed equally positioned with 0.6 percent decreases and Alabama reporting a 0.3percent decline.

The South Florida waterfront housing market in Jupiter, Stuart, and North Palm Beach area continues to show strong activity.  Contact the specialists at Waterfront Properties and Club Communities to discuss our local market in detail.       

                Jupiter Office: 561-746-7272      Stuart Office: 772-287-7676  

                               North Palm Beach Office: 561-626-7272