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35 ยป VISIT US ONLINE @ DSNEWS.COM CASE-SHILLER INDEX: HOME PRICES INCREASE IN Q4 2013 With 2014 nearing its halfway point, a broad spectrum look at more than 380 markets nationwide confirmed home prices jumped 11.3 percent in 2013's final quarter compared to the year prior. CoreLogic released its own quar- terly Case-Shiller Indexes, assembled using the company's proprietary data supplemented with statistics from the Federal Housing Finance Agency (FHFA). e analysis differs from the monthly S&P/Dow Jones Case Shiller Indices in that it covers a wider range of markets over a different time frame. While price percentages nationwide were up by double digits in Q 4, seven cities managed to shoot up into the 20 percent range year-over-year, with Las Vegas leading at 25.6 percent growth. e remaining six cities were all in California: Riverside (+23.8 percent), Oakland (+23.3 percent), Sacramento (+23 percent), Los Angeles (+20.3 percent), San Jose (+20.1 percent), and San Francisco (+20 percent). e sharp increase comes as no surprise for the region, which has suffered from low inventory levels throughout the recovery. "Limited construction of new homes and low inventories of existing homes for sale contributed to the jump in prices," said Dr. David Stiff, principal economist for CoreLogic Case-Shiller. "Developers remain cautious about building too many new houses until they see stronger demand in their markets." Additionally, prices climbed to new peaks in a number of metros, including Houston, Dallas, Denver, Honolulu, and Pittsburgh. "ese cities have never achieved price levels quite this high, not even in the record year of 2006," Stiff said. Even with so many markets remaining hot, CoreLogic is among those industry analysts calling for a drop-off in price gains this year. rough December, the company predicts price appreciation will slow to 5.3 percent nationally, though that still comes in above the long-term annual average of 4.5 percent. "For the remainder of 2014, investor demand and sales of foreclosed properties should drop off quickly. Traditional buyers are slowly returning to the market but cannot replace demand from investors who led the market in recent years," Stiff said. default servicing in print and online @ dsnews.com 06.2014 As the new FHFA director begins to emerge from the shadows, many wonder how he will lead FHFA. MEL WATT Man of Mystery default servicing in print and online @ dsnews.com 06.2014 As the new FHFA director begins to emerge from the shadows, many wonder how he will lead FHFA. will lead FHFA. MEL WATT Man of Mystery 65 SPECIAL SECTION: PROPERTY VALUATION INDEX Meet the firms and businesses who are ensuring market stabilization by assigning accurate values to properties. 56 GOVERNING HOUSING'S ANTECEDENT STATE All eyes on are California's gubernatorial race as the state is poised to make significant turnaround with the right leader in place. 62 PROPERTY VALUATIONS 101 Choosing the right service provider is critical to keeping your bottom line strong. DS News is the only publication in the country solely dedicated to providing default servicing professionals with news and content focused on their industry. SUBSCRIBE TO THE LEADER IN DEFAULT SERVICING NEWS SUBSCRIBE NOW! Call 214.525.6700 or connect with us online at DSNews.com.