Home prices in area increase 3.8%

SARASOTA — Real estate research firm CoreLogic reported home prices, including distressed sales, in the North Port-Sarasota-Bradenton area increased 3.8% in September 2017 compared to September 2016.

According to a press release, on a month-over-month basis, home prices increased 0.4% in September 2017 compared to August 2017.

CoreLogic's report says nationally, home prices increased year over year by 7% from September 2016 to September 2017. On a month-over-month basis, home prices nationally increased 0.9% in September 2017 compared to August 2017.

“Heading into the fall, home price growth continues to grow at a brisk pace," says CoreLogic Chief Economist Frank Nothaft in a statement. "This appreciation reflects the low for-sale inventory that is holding back sales and pushing up prices.”