A price report released in December shows single-family home values rose 21.1 percent in Orange County during the 12 months ending in October, the seventh straight month with annual appreciation rates above 20 percent.
But the appreciation rate continued to decelerate for a second straight month, according to Irvine market tracker CoreLogic, reflecting the usual seasonal slowdown that occurs in the fall and winter months.
By comparison, house price gains were slightly higher in September, up 21.7 percent. In August, prices rose 23 percent.
The same trend occurred nationwide. U.S. house prices increased 12.5 percent in October, but were up by only 0.2 of a percent from September, CoreLogic reported.
“The housing market appears to be catching its breath as we head into the final months of 2013,” said Anand Nallathambi, president and CEO of CoreLogic. “The deceleration in month-on-month trends was anticipated as strong gains in home prices over the spring and summer slow in line with normal seasonal patterns and the impact of higher mortgage interest rates.”
CoreLogic’s figures were higher than two competing reports. DataQuick Information Systems reported Orange County’s appreciation rate was 19.3 percent in October. The California Association of Realtors reported that house prices were up 18.1 percent.
Unlike those two market measures, however, CoreLogic bases its report on changes in sales prices for the same houses over time.
CoreLogic reported that the Inland Empire had the highest price gains among the nation’s largest metro areas: 24.1 percent. Los Angeles County placed second, with an appreciation rate of 22.1 percent.
California had the nation’s second-highest appreciation rate among U.S. states at 22.4 percent. Nevada placed first, with house prices up 25.9 percent.
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