CoreLogic: Fresno home prices jump by 5 percent

Source: The Business Journal

Fresno home prices, including distressed sales, increased by 5 percent in September, compared to September 2011, CoreLogic, a residential property information, analytics and service provider, reports. On a month-over-month basis, home prices, including distressed sales, increased by 0.7 percent in September 2012 compared to August 2012. Excluding distressed sales, year over year prices increased by 4.8 percent in September 2012, compared to September of last year. On a month-over-month basis, prices, excluding distressed sales, grow by 1.2 percent in September, compared to the previous month. On a national basis, the country mirrored Fresno as prices, excluding distressed sales, jumped by 5 percent in September, compared to September 2011. “Home price improvement nationally continues to outpace our expectations, growing five percent year over year in September, the best showing since July 2006,” said Mark Fleming, chief economist for CoreLogic in a release. In the same release, Anand Nallathambi, president and chief executive officer of CoreLogic, said home prices are responding to better market fundamentals, such as reduced inventories and improved buyer demand. “So far this year we’re seeing clear signs of stabilization and improvement that show promise for a gradual recovery in the residential housing market,” Nallathambi said.

URL to original article: http://thebusinessjournal.com/news/real-estate/3844-corelogic-fresno-home-prices-jump-by-5-percent

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