Springfield home prices rise as US average climbs

Springfield home prices rose in November, but the increase was less than the movement in the national market, according to real estate market tracker CoreLogic.

Queen City home prices that included distressed sales - which factor in short sales and real estate-owned transactions - moved up 1.9 percent that month compared to November 2014, according to a news release.

The corresponding U.S. figure increased by 6.3 percent in November compared to the prior year.

"Many factors, including strong demand and tight supply in many markets, are contributing to the long-sustained boom in prices and home equity, which is a very good thing for those owning homes," said Anand Nallathambi, president and CEO of CoreLogic, in the release. "On the flip side, prices have outstripped incomes for several years in a number of regions so, as we enter 2016, affordability is becoming more of a constraint on sales in some markets."

For the 12-month period ended Nov. 30, Missouri’s single-family home prices grew 5.3 percent, according to CoreLogic.