Home prices in Colorado Springs continue to rise, according to a national report.
CoreLogic, a real estate analytics firm that tracks real estate prices monthly, reported that average Colorado Springs home sales prices increased 3.3 percent from August 2011 to August 2012. That’s following a 3.7 increase from July 2011 to July 2012.
Home sales prices increased 0.2 percent between July and August of this year in Colorado Springs, according to the CoreLogic report.
The sales prices increases didn’t vary dramatically when distressed properties, those in some stage of short-sale or foreclosure, were excluded. August prices, excluding distressed sales, climbed 3.4 percent over August 2011 figures.
The Colorado Springs trend is in keeping with national trends, where home prices rose an average of 4.6 percent, including distressed sales, between August 2011 and August 2012.
That’s the biggest year-over-year increase since 2006, according to CoreLogic.
The August figures mark the sixth consecutive increase in home prices nationally.
Excluding distressed sales, home prices increased 4.9 percent year-over-year.
CoreLogic predicts that national home prices will climb 5 percent year-over-year in September
“Sustained economic recovery in the U.S. requires a healthy housing market. You cannot have a healthy housing market without price stabilization and ultimately home price appreciation,” said Anand Nallathambi, president and CEO of CoreLogic. “Improving pricing trends over the past few months and our forecast for continued gains in September bode well for a progressive rebound in the residential housing market.”