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Home prices in the North Port-Sarasota-Bradenton region, including distressed sales, increased 7.4% in November over November 2015, according to a new report from real estate analytics firm CoreLogic.
Prices in the region on a month-over-month basis, meanwhile, increased .4% in November over October, the report adds.
The area increase mirrors the national picture: Home prices nationwide, including distressed sales, increased 7.1% year-over-year in November over November 2015. The CoreLogic HPI Forecast projects home prices nationally will increase 4.7% on a year-over-year basis from November 2016 to November 2017.
"Last summer's very low mortgage rates sparked demand, and with for-sale inventories low, the result has been a pickup in home-price growth," says CoreLogic Chief Economist Frank Nothaft in the statement.
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