Written by The Business Journal Staff
Central Valley home prices were up in February on an annual and month-over basis, according to new data from real estate information firm CoreLogic.
Fresno Valley home prices, including distressed sales, increased by 5.9 percent in February compared to last year. Sales month-over-month increased buy 0.6 percent.
In the Hanford-Corcoran area, home prices jumped 12.9 percent in February compared to last year. Prices increased by 1.8 percent on a month-over-month basis.
Home prices were up 7.4 percent in February in the Visalia-Porterville area compared to last year. On a month-over-month basis, prices increased by 1 percent.
Madera home prices were up 3.7 percent in February compared to last year, and up 0.1 percent on a month-over-month basis.
Nationwide, prices including distressed sales were up 6.8 percent in February, and also up 1.1 percent compared to January.
CoreLogic is forecasting that February prices will increase by 5.2 percent in the next year.
“Home prices continue to rise across the U.S. with every state posting year-over-year gains during the last 12 months,” said Anand Nallathambi, president and CEO of CoreLogic. “Improved economic conditions and tight inventories continue to drive exceptionally strong gains in many markets, especially for homes priced below $500,000.”