Home prices edged up marginally in October, according to a new report by CoreLogic, as the usual seasonal slowdown in sales put a damper on prices.
The CoreLogic house price index rose 0.2% in October following a similar increase September.
“Based on our pending HPI, the monthly growth rate is expected to moderate even further in November and December,” says CoreLogic chief executive Mark Fleming.
Overall, home prices, including distressed sales, are up 12.5% from October 2012. Prices in 13 states have increased by over 10% year-over-year, according to the CoreLogic report released Tuesday.
The recent “slowdown in price appreciation is positive for the housing market as almost half of the states are now within 10% of their respective historical index,” the chief economist says.