Home prices continued their ascent in February, according to the latest index from CoreLogic.
Home prices in the Chicagoland area increased 11.8 percent year-over-year in February, according to the latest Home Price Index from CoreLogic.
Though encouraging, that yearly total was actually a bit behind the national average, which saw prices rise 12.2 percent. That was the 24th straight month of yearly increases for the Home Price Index, and according to the CoreLogic Pending HPI, prices will rise 10.5 percent year-over-year in the next index.
Anand Nallathambi, the president and CEO of CoreLogic, said housing’s progress should bode well for other areas in the housing market.
“February marks two straight years of year-over-year gains in national prices across the United States,” he said. “The consistent upward movement in home prices should ultimately prove to be an important stimulant for higher levels of sustained market activity and growth in the housing economy.”
Interested in how home prices have progressed in the last year? Check out our graph below for some perspective: