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Home prices in the Sarasota-Manatee region are rising at a rate much faster than the national average, according to data provider CoreLogic.
In April 2016, home prices in North Port-Sarasota-Bradenton, including distressed sales, increased by 9.9% over April 2015, a CoreLogic report says. The national year-over-year increase was 6.2%.
“Low mortgage rates and a lean for-sale inventory have resulted in solid home-price growth in most markets,” says Dr. Frank Nothaft, chief economist for CoreLogic, in the statement. “An expected gradual rise in interest rates and more homes offered for sale are expected to moderate appreciation in the coming year.
Statewide, Florida saw the sixth largest year-over-year rise in home prices in April 2016, with an increase of 7.7%, the report shows. In order, Washington, Oregon, Colorado, Utah and Nevada had the five largest jumps over April 2015.
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