Of the largest metro areas, Houston led the way with 9.9% year-on-year growth, while the once-hot-growing Phoenix area had just 2.8% growth. Arizona home prices are reported at 29.6% below the August 2006 peak. Nationally, home prices are just 12.6% below that peak time. With the CoreLogic forecast for 2015, neither deficit will be made up next year.
“Home prices continue to rise compared with this time last year, but the rate of growth is clearing slowing as we exit 2014,” said the president of CoreLogic. If the positive economic trends experienced in the last few months continue, CoreLogic projects a 5% growth rate next year.
CoreLogic Report Here.