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House prices in Peoria decreasing

By WEEK Producer

House prices in Peoria decreasing

January 15, 2013 Updated Jan 15, 2013 at 1:00 PM CDT

PEORIA, Ill. -- It may be time to buy if you're looking for a house in the Peoria area.

Homes across Peoria are losing value, according to new data released Tuesday by CoreLogic.

The data shows home prices in Peoria declined by 0.7 percent in November 2012 compared to this same time in 2011.

On a month-over-month basis, home prices increased by 0.3 percent in November 2012 compared to October 2012.

CoreLogic reports that national home prices increased on a year-over-year basis by 7.4 percent in November 2012, the biggest increase nationally since May 2006. On a month-over-month basis, home prices increased by 0.3 percent from October to November of 2012.

CoreLogic data indicates that national home prices are expected to rise by 7.9 percent in December 2012 compared to December 2011.

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