Springfield home price index presents mixed bag

Springfield home prices, including distressed sales, decreased by 0.5 percent in August compared to the same month of 2013.

However, prices including distressed sales rose 0.2 percent in August compared to July, according to a news release from real estate market tracker CoreLogic.

Excluding distressed sales, Springfield home prices increased by 2.8 percent year-to-year and by 0.8 percent month-to-month.

Nationwide home prices, including distressed sales, dropped 6.4 percent in August from a year earlier. Compared to July, prices increased 0.3 percent, according to the release.

Not factoring in distresses sales - which comprise short sales and real estate owned transactions - U.S. prices jumped 5.9 percent year-to-year and ticked up 0.3 percent from July.

"The pace of year-over-year appreciation continues to slow down as real estate markets find more balance. Home price appreciation reached a peak of almost 12 percent year-over-year in October 2013 and has since subsided to the current pace of 6 percent," said Mark Fleming, chief economist for CoreLogic, in the release. "Continued moderation of home price appreciation is a welcomed sign of more balanced real estate markets and less pressure on affordability for potential home buyers in the near future."

According to CoreLogic estimates, home prices, including distressed sales, are expected to increase 0.2 percent in September compared to August.