Springfield home prices, including distressed sales, rose 1.6 percent in May compared to the same month a year earlier, according to Irvine, Calif.-based real estate market tracker CoreLogic (NYSE: CLGX).
Prices also rose 1.9 percent from April of this year, according to a news release.
Excluding distressed sales - which comprise short sales and real estate owned transactions - prices rose 4.7 percent in May compared to the same month of 2013. Prices excluding distressed sales decreased 0.3 percent in May compared to April.
U.S. home prices, including distressed sales, rose 8.8 percent in May from a year earlier, representing the 27th consecutive month of year-over-year increases. Excluding distressed sales, home prices nationwide increased 8.1 percent, according to the release.
"Home prices are continuing to climb across most of the country, which has both positive and negative implications for the housing market," CoreLogic President and CEO Anand Nallathambi said in the release. "While the rapid rise in prices over the past two years has lifted many homeowners out of negative equity, it has also become a negative factor in buying decisions for prospective purchasers weighing affordability concerns.
"As we move ahead, a moderation in home price increases over the next 12 months should help cool things down a bit and keep the housing recovery going."[[In-content Ad]]
