Home prices post annual increase for 21st consecutive month

U.S. home prices rose 11.8 percent year over year in November, marking the 21st consecutive monthly annual increase, CoreLogic reported.

Month over month, prices increased 0.1 percent in November, according to the latest CoreLogic Home Price Index. CoreLogic said the slow appreciation rate was a result of normal seasonal patterns.

In December, home prices are expected to dip 0.1 percent month over month, CoreLogic said.

“Twenty-one states and the District of Columbia are now at or within 10 percent of their peaks,” said Anand Nallathambi, president and CEO of CoreLogic. “The outlook for 2014 looks a bit less robust as regulatory complexities and tight credit can be expected to cool the housing market.”

Source: CoreLogic