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CoreLogic: Chicagoland Home Prices Jump 12.6%

by Peter Thomas Ricci

Home prices continued their double-digit performance in January, according to the latest CoreLogic numbers.

corelogic-home-price-index-january-2014-housing-recovery-home-prices-mark-fleming

Home prices in the Chicagoland housing market rose 12.6 percent year-over-year in January, according to the latest Home Price Index (HPI) from CoreLogic.

That exceeded national averages, which saw the national HPI increase 12.02 percent yearly and 0.9 percent from December to January.

Mark Fleming, CoreLogic’s chief economist, said the market’s yearly returns harken back to bubble-era increases – even with the polar vortex.

“Polar vortices and a string of snow storms did not manage to weaken house price appreciation in January,” Fleming said. “The last time January month-over-month and year-over-year price appreciation was this strong was at the height of the housing bubble in 2006.”

See our graph below for an idea on how the HPI has progressed the last couple years:

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