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Colorado saw the fastest rate of house-price growth, mega-sales are back

Staff writer |
Colorado saw the fastest rate of house-price growth last year, while Connecticut's drop, while modest, was the worst in the nation, according to CoreLogic.

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CoreLogic reported home-price growth in December that slipped 0.1% on the month, to take the year-on-year move to 5%. CoreLogic was measuring single-family homes, including distressed properties like foreclosures and short sales.

At 8.4%, Colorado saw the strongest growth, followed closely by Texas at 7.8% and New York at 7.6%.

Connecticut, Vermont and Maryland were the only states to see prices drop, with the Nutmeg State's 2.2% drop bringing up the rear in the nation.

CoreLogic sees similar growth in 2015, forecasting a 4.8% price gain nationwide. It sees a slow start to the year but upward pressure as the year winds on as low inventories and more first-time buyers affect prices.

From the peak, Nevada has seen prices crater by 36%, while in Florida prices have dropped 33.5%.

Of the major cities, Houston led the way with 10% growth and Dallas had an 8.7% gain last year, CoreLogic reported.

In 2014, there were more sales of U.S. homes worth between $50 million and $99 million than in the previous 10 years combined. Twenty homes in that price range sold in 2014, compared with just one sale (and two more under contract) in 2013, according to Real Estate Appraisers.

There were four such sales in 2012 (with one more still under contract), two in 2011 and one in 2010, the firm says.

And there were three homes sold in the U.S. last year worth $100 million or more versus just one in each of the previous three years, according to sales data from public records tracked by Miller Samuel. (Some homes were bought before the building was completed, so are still technically under contract.)

Much of this activity is taking place in and around New York City. Last year, an ocean-view East Hampton property with 16 acres sold for $147 million, the largest sum ever paid for a single home in the U.S.


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