Dive Brief:
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Home prices increased by 5% in December 2014 compared with December 2013, although they dropped by a slight 0.1% from November 2014, CoreLogic reported on Tuesday.
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December marked 34 consecutive months of year-over-year sales price increases, the CoreLogic Home Price Index revealed.
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If distressed sales are excluded, every state except Connecticut saw year-over-year price appreciation in December. Prices in Colorado grew the most over the year, followed by Texas and New York.
Dive Insight:
The appreciation rate of homes at the beginning of 2014 contrasted greatly with the rate at year's end. 2014 started with an 11% year-over-year increase and ended with a more moderate 5% year-over-year increase.