Monthly real estate figures for October show Connecticut had the sixth lowest increase in home prices nationwide. Home prices including distressed sales, increased nationwide by 6.8 percent in October 2015 compared with October 2014.
Connecticut lagged well behind that number at 1.6 percent, which is the lowest among the New England states. The state with the worst figure was Louisiana, which saw home prices drop 0.2 percent. Colorado lead the nation with 10.5 percent growth year over year.
Month over month, home prices increased by 1 percent in October 2015 compared with September 2015, according to the CoreLogic Home Price Index. The predicted growth for November is expected to be a negligible .1 percent increase.
“Many markets have experienced a low inventory of homes for sale along with strong buyer demand, which is sustaining upward pressure on home prices. These conditions are likely to persist as we enter 2016,” said Frank Nothaft, chief economist for CoreLogic, in a statement. “A year from now, as we finish out October 2016, we expect the CoreLogic national Home Price Index appreciation to slow to 5.2 percent.”
