Home prices in Savannah, including distressed sales, increased by 3.4 percent in February 2014 compared to February 2013, according to real estate reporting firm CoreLogic.
On a month-over-month basis, home prices, including distressed sales, decreased by 0.3 percent in February 2014 compared to January 2014, CoreLogic reported Tuesday in its February Home Price Index.
Excluding distressed sales, year-over-year prices increased by 2.8 percent in February 2014 compared to February 2013. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI indicates home prices increased by 0.2 percent in February 2014 compared to January 2014.
Nationally, home prices, including distressed sales, increased 12.2 percent in February 2014 compared to February 2013. This change represents 24 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased by 0.8 percent in February 2014 compared to January 2014.
“February marks two straight years of year-over-year gains in national prices across the United States,” said Anand Nallathambi, president and CEO of CoreLogic. “The consistent upward movement in home prices should ultimately prove to be an important stimulant for higher levels of sustained market activity and growth in the housing economy.”