Springfield home price increase behind state, nation

While Springfield’s average home price increased by 3.9 percent in March, the growth falls short of rates in Missouri and the United States.

Including distressed sales - which factor short sales and real-estate owned transactions - Missouri’s average increased by 5.8 percent compared to March 2015. The U.S. average rose 6.7 percent, according to a news release from real estate market tracker CoreLogic.

"Home prices reached the bottom five years ago, and since then have appreciated almost 40 percent," said Anand Nallathambi, president and CEO of CoreLogic, in the release. "The highest appreciation was in the West, where prices continue to increase at double-digit rates."

CoreLogic predicts a 5.3 percent increase in national home prices for the year ended March 31, 2017. That’s due, in part, to low interest rates and increased home building, according to CoreLogic.