Home Prices Rose 6.9% in January on Yearly Basis: CoreLogic

Home prices rose 6.9% in January compared to a year ago, according to CoreLogic.

At the same time, home prices rose 1.3% compared to December. The yearly and monthly comparisons both include distressed sales.

Washington and Colorado had the highest increase in sales on a yearly basis, at 11.6% and 10.9%, respectively. Two states showed a decline in home prices on year-to-year basis: Mississippi and Louisiana.

Distressed sales include short sales and real estate owned transactions.

"With rates staying low for now and continued solid job and income growth, the spring buying season is shaping up to be a good one," said Anand Nallathambi, president and CEO of CoreLogic.