Home prices in the Orlando-Kissimmee-Sanford metropolitan statistical area — including distressed sales — went up 7.8 percent in December 2016 compared with December 2015, a new report from CoreLogic shows.
On a month-over-month basis, home prices increased by 0.6 percent in December compared with November. Meanwhile, nationwide home prices increased year over year by 7.2 percent in December 2016 compared with December 2015 and increased month over month by 0.8 percent.
"Last year ended with a bang with home prices up over 7 percent nationally, led largely by major metro areas," said Anand Nallathambi, president and CEO of CoreLogic. "We expect prices to continue to rise just under 5 percent in 2017 buoyed by lack of supply and continued high demand."
The CoreLogic HPI Forecast expects home prices to increase by 4.7 percent on a year-over-year basis from December 2016 to December 2017, and on a month-over-month basis by 0.1 percent from December 2016 to January 2017.