Springfield home prices rise 2.9% in October

Real estate market tracker CoreLogic reports Springfield home prices - including distressed sales - rose 2.9 percent in October compared to the same month of 2013.

Compared to September, October sales ticked down 0.2 percent, according to a news release.

Excluding distressed sales - which comprise short sales and real estate owned transactions - Springfield’s home prices rose 4.6 percent in October compared to a year earlier. Prices were flat from September.

Across the U.S., homes prices - including distressed sales - increased 6.1 percent during October compared to a year earlier. October marked the 32nd consecutive month of year-to-year home prices increases. Prices rose 0.5 percent from September, according to the release.

U.S. prices excluding distressed sales rose 5.6 percent year-to-year and 0.6 percent month-to-month.

"The gradual recovery of the housing market continues to be propelled by improving employment, more buyer and seller confidence, continued low rates and, in certain parts of the country, investor demand. The continued actual and projected rise in home prices confirms that fact," CoreLogic President and CEO Anand Nallathambi said in the release. "Based on our projections, home prices in over half the country will have reached or surpassed levels last seen at the height of the housing bubble sometime in mid-2015."