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LATEST CORELOGIC ECON TWEETS

Colorado Tops State Appreciation Rates for All 12 Months of 2015

2015 Home Prices Increased 5 Percent for the Year

Molly Boesel    |    Property Valuation

  • Home prices including distressed sales increased 6.3 percent year over year in December 2015 and remain 7.6 percent below the April 2006 peak. Prices rose 5 percent for full year 2015.
  • Colorado had the largest year-over-year HPI growth in December 2015.
  • The high-price tier had the slowest appreciation rate of all price tiers in December.

National home prices increased 6.3 percent year over year and by 0.8 percent month over month in December 2015, according to the latest CoreLogic Home Price Index (HPI®) Report. While the HPI has increased on a year-over-year basis every month since March 2012, prices are still 7.6 percent below the April 2006 peak. Home prices rose 5 percent for the full year of 2015, down from a 7.6 percent annual gain for 2014.

Colorado showed the largest HPI gain in December 2015 with a 10.4 percent year-over-year increase, followed closely by Washington (+10.3 percent) and Oregon (+9.1 percent). Colorado was the fastest appreciating state for each of the 12 months of 2015. Three states showed year-over-year depreciation:  Louisiana (-2.9 percent), Mississippi (-2.8 percent), and New Mexico (-0.1 percent). Nevada home prices were the farthest below their all-time HPI high, still 29.8 percent lower than the state’s March 2006 peak.  

HPI by Price Segment

HPI by Price Segment

In addition to the overall indices, CoreLogic analyzes four individual home-price tiers that are calculated relative to the median national home price[1]. Figure 2 shows the levels of the four price tiers indexed to January 2006, shortly before each of the tiers hit its peak index value. The low-price tier has shown the most price growth in recent months, increasing 8 percent year over year in December 2015. This price tier also recovered 48.4 percent from its lowest point in March 2009 and is the only price tier to pass its pre-housing-crisis peak. Although the low-to-middle tier has recovered 43 percent from its lowest point in March 2011, and has grown by 7.3 percent year over year, it is still the farthest from its peak of all the price tiers, down 9.1 percent. The middle- to moderate-price tier increased 6.4 percent year over year in December 2015, but remains 8.1 percent below its peak. The high-price tier, which fell the least during the housing crisis, increased by only 4.9 percent year over year in December 2015, the slowest increase of all the price tiers. The high-price tier remains 6.3 percent below its peak.



1The four price tiers are as follows: homes priced at 75 percent or less of the median (low price), homes priced between 75 and 100 percent of the median (low-to-middle price), homes priced between 100 and 125 percent of the median (middle-to-moderate price) and homes priced greater than 125 percent of the median (high price).

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