The CoreLogic Home Price Index (HPI), which is based on repeat sales, increased 7.5 percent in 2012, the largest increase since 2006. In 2013, CoreLogic projects home prices to rise 6 percent due to greater affordability fueling steady demand, a lower level of real estate-owned (REO) sales and a low inventory of unsold homes.
I just took a look at the at the stats for Napa County and the median sales price for December 2011 to 2012 rose 7.22 percent and the year over year increase for 2011 to 2012 was 7.23 percent. I agree one should expect a similar increase for 2013 here in the Napa Valley but if inventory remains as low as it, a historic low, then all bets as to what will happen to this overheating market are off.
No matter the numbers, things are definitely getting better, now if there only is a bit more supply. If you would like to see all that CoreLogic said in their press release about how much your home will appreciate in 2013.
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