Sarasota-Manatee home prices post monthly surge

Real estate research firm CoreLogic says home prices in the North Port-Bradenton-Sarasota metropolitan area rose 7.4% in December vs. the same period in 2015.

Prices inched up 1.5% in December as compared to November 2016, CoreLogic's Home Price Index reported.

“Last year ended with a bang with home prices up over 7% nationally, led largely by major metro areas,” says Anand Nallathambi, CoreLogic's president and CEO.

Florida home prices surged ahead by 7.4% last month as compared to December 2015. Only six U.S. states, including Washington, Colorado and Idaho, performed better than the Sunshine State.

Nationwide, home prices — including distressed sales — jumped 7.2% last month as compared with December 2015. Month over month, home prices in the U.S. edged upward by 0.8%, the group notes.

CoreLogic also believes home prices will rise another 4.7% between December 2016 and the final month of 2017.

If that prediction reaches fruition, home prices would reach a “new nominal peak” before the close of 2017, CoreLogic says, pushed ahead by a lack of significant new supply and continued demand.