Dive Brief:
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Home prices rose by 6.1% in October, marking the 32nd month of year-over-year increases, according to the October CoreLogic Home Price Index.
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Compared with September, prices increased by 0.5%.
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The report showed that home prices in 27 states were within 10% of their peak levels during the housing bubble, and that housing values in more than half of states will equal or exceed their peak levels by mid-2015.
Dive Insight:
Although home prices continue to rise, the rate of those increases is slowing. In fact, gains this fall amount to just half of the pace of growth in the spring.
Still, CoreLogic points to “pockets of strength” in markets where state or local economies are particularly strong, including several Texas cities, Seattle, and Denver. In these "pockets," however, the strong economy is a bit of a double-edged sword—those areas are also having severe construction worker shortages.