CoreLogic: US home prices accelerated in October; growth is expected to be mild over next year

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WASHINGTON — U.S. home prices rose at a faster year-over-year pace in October than in September, snapping a seven-month slowdown.

Real estate data provider CoreLogic says prices increased 6.1 percent in October compared with 12 months earlier. That was up from September's year-over-year increase of 5.6 percent.

Still, home values are rising more slowly than they were earlier this year, when 12-month gains were averaging nearly double their current pace.

CoreLogic predicts that price growth will remain mild as the U.S. real estate market continues to recover from the lows reached after the Great Recession. Home values are expected to rise 5.1 percent over the next 12 months.

The firm estimates that roughly half the country's homes will match or surpass their pre-recession prices by the middle of 2015.

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