According to a new report from CoreLogic, Central Valley home prices are up, both year over year and month over month.

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Valley home prices nationwide, including distressed sales, increased year over year by 6.9 percent in January 2016 compared with January 2015 and increased month over month by 1.3 percent in January 2016 compared with December 2015, according to the CoreLogic Home Price Index (HPI).

In Fresno, home prices, including distressed sales, increased by 5.3 percent in January 2016 compared with January 2015. On a month-over-month basis, home prices, including distressed sales, increased by 1.4 percent in January 2016 compared with December 2015.

In Hanford-Corcoran, home prices, including distressed sales, increased by 11.3 percent in January 2016 compared with January 2015. On a month-over-month basis, home prices, including distressed sales, increased by 4.3 percent in January 2016 compared with December 2015.

In Visalia-Porterville, home prices, including distressed sales, increased by 8.3 percent in January 2016 compared with January 2015. On a month-over-month basis, home prices, including distressed sales, decreased by 0.2 percent in January 2016 compared with December 2015.

In Madera, home prices, including distressed sales, increased by 11.2 percent in January 2016 compared with January 2015. On a month-over-month basis, home prices, including distressed sales, increased by 2.3 percent in January 2016 compared with December 2015.

The CoreLogic HPI Forecast indicates that home prices will increase by 5.5 percent on a year-over-year basis from January 2016 to January 2017, and on a month-over-month basis home prices are expected to increase 0.5 percent from January 2016 to February 2016.

The CoreLogic HPI Forecast is a projection of Valley home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

“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.”