Jacksonville home prices on the rise

Values increase year-over-year


JACKSONVILLE, Fla. – Jacksonville home prices are on the rise, according to new data released by CoreLogic.

The data shows home prices in Jacksonville rose 7.1 percent in December, 2016 compared to the same month a year earlier. That's in line with national averages, but slightly behind the statewide average of 7.4 percent increase in Florida.

Home prices in Jacksonville rose 0.3 percent in December over November prices, lower than the national increase of 0.8 percent, according to the report.

The company also projects that home prices will continue to rise. The CoreLogic Home Price Forecast indicates that home prices are expected to increase by 4.7 percent from December 2016 to December 2017, with a projected 0.1 percent increase from December to January.

Among the metropolitan areas seeing the largest increase, year-over-year, Denver saw a 9.9 percent increase in home prices. Boston, Los Angeles, Miami and Las Vegas all saw home prices rise more than 6 percent, according to the report.

The American northwest saw the largest increases in average home prices with Washington and Oregon both seeing more than 10 percent increases year-over-year.