Not counting foreclosures, short sales and other so-called distressed sales, home prices in Grand Junction have increased more than 5 percent over the past year, according to the latest results of a monthly analysis by a California-based firm.
CoreLogic reported that its Home Price Index for Grand Junction increased 5.1 percent in November compared to the same month in 2012. Including distressed sales, however, prices edged down seven-tenths of a percent over the same span.
Grand Junction home prices edged up three-tenths of a percent between October and November, CoreLogic reported.
In Colorado, the Home Price Index including distressed sales increased 8.6 percent in November compared to the same month the year before. Excluding distressed sales, the index advanced 7.8 percent.
Nationally, the Home Price Index including distressed sales increased 11.8 percent. Excluding distressed sales, the index rose 10.4 percent.
Including distressed sales, the index has posted year-over-year increases for 21 straight months.
“Our pending HPI projects that home prices will grow by 11.5 percent for the full year of 2013. That will make 2013 the best year for home price appreciation since 2005,” said Mark Fleming, chief economist for CoreLogic, which provides a range of information and services to business and government clients.
Including distressed sales, the top five states for home appreciation during November were Nevada, California, Michigan, Arizona and Georgia.