Home prices (including distressed sales) climbed 11.8% year-over-year in November 2013, marking the 21st straight month of year-over-year increases, according to CoreLogic’s latest home price report.
Excluding distressed sales, home prices edged up 0.3% month-over-month in November compared to October.
“The housing market paused as expected in November for the holiday season with very low month-over-month appreciation,” CoreLogic economist Mark Fleming said in the release.
The CoreLogic pending home price index projects that home prices will rise 11.5% in 2013, making it the best year for home price growth since 2005.
“It’s too early to tell if the marginal dip in the annual pace of house price inflation in November marks the start of the slowdown in price gains that we are expecting,” Capital Economics’ Paul Diggle wrote clients. “But we are confident that annual price gains will not remain in double-digit territory for much longer.”