Springfield home price growth outpaced by state, country

While Springfield home prices rose in August, the city’s increase was outpaced by state and national figures, according to real estate market tracker CoreLogic.

Springfield prices - including distressed sales that factor short sales and real-estate owned transactions - increased 4 percent in August compared with the same month a year earlier, according to a news release.

U.S. home prices moved up 6.2 percent, while Missouri’s figure climbed 4.2 percent.

"Housing values continue to rise briskly on stronger fundamental and investor-fueled demand, as well as lack of adequate supply," said Anand Nallathambi, president and CEO of CoreLogic, in the release. "This continued price appreciation is contributing to a growing affordability crisis in many markets around the country."

CoreLogic Chief Economist Frank Nothaft predicts that by next year, home prices will return to their peak levels reached in April 2006.