CoreLogic® Case-Shiller Home Price Indexes Confirms 11.3 Percent Increase in 2013, Predicts Increases of Less Than 6 Percent in 2014

National in scope, the report’s findings illustrate the extent to which Flagler County’s housing market recovery lags that of the broader market.

Palm Coast, FL – May 13, 2014 – CoreLogic released today its fourth quarter 2013 Case-Shiller Home Price Indexes Report. The indexes are drawn from more than 380 U.S. markets, including thousands of ZIP codes, counties, metro areas and state markets. National in scope, the report’s findings illustrate the extent to which Flagler County’s housing market recovery lags that of the broader market.

“There are a number of metropolitan areas that have reached new price peaks, including Houston, Dallas, Denver, Honolulu and Pittsburgh. These cities never achieved price levels quite this high, not even in the record year of 2006,” said CoreLogic's principal economist, Dr. David Stiff.

Meanwhile, the median selling price for a single-family Flagler home during March and April stands at $151,000, fully 41.9% below the local market peak. Real estate markets are local, and we surely peaked higher and fell lower than most of the country. And the Flagler market has risen 42.5% above the bottom of the downturn. More about that in tomorrow’s GoToby.com newsletter.

The report forecasts a one-year price home price appreciation of 5.3% natinally. Home prices are expected to rise over the next five years at a 3.1% annualized rate.

Florida was left off all lists.

The five metro areas with the largest year-over-year gains through the fourth quarter of 2013 were:

• Las Vegas – +25.6%
• Riverside, Calif. – +23.8%
• Oakland, Calif. – +23.3%
• Sacramento – +23.0%
• Los Angeles – +20.3%

The five metro areas with the smallest gains through the fourth quarter of 2013 were:

• Virginia Beach, Va. – -0.2%
• San Antonio, Texas – +0.7%
•  Hartford, Conn. – +1.3%
• Camden, N.J. – +2.1%
• St. Louis, Mo. – +2.9%

The five metro areas with the largest three-year home price gains through the fourth quarter of 2013 were:

• Detroit – +53.9%
• Phoenix – +40.6%
• San Jose – +36.8%
• Warren, Mich. – +32.8%
• Oakland, Calif. – +32.0%

The five metro areas with the largest three-year declines through the fourth quarter of 2013 were:

• Hartford, Conn. – -2.8%
• Virginia Beach, Va. – -1.0%
• Camden, N.J. – -1.0%
• Providence, R.I. – -0.5%
• Newark, N.J. – -0.3%