Springfield home prices drop month-to-month

Springfield home prices showed a month-to-month decline in November, according to the latest home price index from Santa Ana, Calif.-based real estate data tracking firm CoreLogic (NYSE: CLGX).

The city's home prices, including distressed sales, dropped 1.9 percent during November compared to the same month of the prior year, but increased 0.3 percent in November compared to October.

Excluding distressed sales, home prices rose 0.9 percent compared to October. Distressed sales, according to CoreLogic, include short sales and real estate owned transactions.

Nationwide home prices, including distressed sales, rose 7.4 percent in November compared to the same month in 2011. The change represents the biggest increase since May 2006 and the ninth consecutive year-to-year rise, according to CoreLogic.

"For the first time in almost six years, most U.S. markets experienced sustained increases in home prices in 2012," CoreLogic President and CEO Anand Nallathambi said in the release. "We still have a long way to go to return to 2005-06 levels, but all signals currently point to a progressive stabilization of the housing market and the positive trend in home price appreciation to continue into 2013."