US home prices coasting upward in November - KTTC Rochester, Austin, Mason City News, Weather and Sports

US home prices coasting upward in November

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Photo: MGN Online Photo: MGN Online

By JOSH BOAK

AP Economics Writer

WASHINGTON (AP) -- U.S. home values rose at a measured pace in November, a sign that demand remains weak as many buyers have been priced out of the market.

Real estate provider CoreLogic says prices increased 5.5 percent in November compared with 12 months earlier. That was up slightly from October's year-over-year increase of 5.4 percent, which was revised downward from a previously reported 6.1 percent.

CoreLogic projects that price growth will remain mild in 2015 as the U.S. real estate market continues to recover from the lows reached after the Great Recession. Nationwide, home prices remain 12.9 percent below their April 2006 peak. Over the next 12 months, CoreLogic expects that home values will rise 4.6 percent.

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