Published: Wednesday, January 16, 2013 at 1:00 a.m.
Last Modified: Tuesday, January 15, 2013 at 9:02 p.m.
Home prices in Sarasota and Manatee counties rose 12.2 percent in November over the period in 2011, data provider CoreLogic Inc. reported Tuesday.
Those prices, which include distressed sales, increased by 2.6 percent in November from October, another sign of the slow-but-steady recovery the region's housing market is experiencing.
Excluding distressed sales, single-family home prices in the North Port-Bradenton-Sarasota metro market climbed 10.6 percent over the year. That followed a revised 6.7 percent increase in October 2012 from the year before, CoreLogic said.
Prices for non-distressed sales, meanwhile, gained 1.6 percent in November from October.
Florida reported a 7.9 percent increase in home prices over the year, the 10th highest rate in the nation. Excluding distressed sales, the gain dipped to 6.9 percent, however.
Nationwide, by comparison, home prices rose 7.4 percent over 2011, the biggest increase since May 2006 and the ninth straight gain in prices on a year-over-year basis.
Home prices increased by 0.3 percent from October to November throughout the U.S., CoreLogic stated.
Excluding distressed sales, prices jumped 6.7 percent over the year and by 0.9 percent from October, the group noted.
"For the first time in almost six years, most U.S. markets experienced sustained increases in home prices in 2012," said CoreLogic president Anand Nallathambi.
"We still have a long way to go to return to 2005-2006 levels, but all signals currently point to a progressive stabilization of the housing market and the positive trend in home price appreciation to
As evidence the nascent residential real estate recovery is not limited to Florida, sales prices increased in 44 states and the District of Columbia, the report said. Arizona led the way at 20.9 percent, followed by Nevada, at 14.2 percent, and Idaho, at 13.8 percent.
Prices declined in Delaware, Illinois, Connecticut, New Jersey, Rhode Island and Pennsylvania, though home prices in those states did not fall during the downturn as far as they did in Florida, Nevada and elsewhere.
The company also predicted that December prices nationwide would likely increase 8.4 percent over the year earlier, but will fall by 0.5 percent from November to reflect the seasonal slowdown.