Home Prices in the Twin Cities metro during November increased by 10.0 percent compared with last year, but were flat compared with October, suggesting that a normal seasonal slow-down is taking hold in the metro and beyond. That's according to the latest monthly report from the CoreLogic Home Price Index, which includes distressed sales.
The market in the Twin Cities largely mirrored what happened to home prices nationwide, which increased 11.8 percent compared with last year - the 21st consecutive monthly year-over-year increase in home prices nationally. Compared with October, prices increased by 0.1 percent in November
Looking forward, the CoreLogic Pending HPI predicts that in December prices, including distressed sales, will slip 0.1 percent from November to December 2013, but increase 11.5 percent compared with last year.
Stay tuned for the latest data on the local housing market, on Monday afternoon I'll post the December and year-end sales and price report or the Twin Cities metro, which are likely to show healthy gains over 2012 despite an annual decline in closings in December.
- Jim Buchta