Index indicates home prices in region increased in May

Home prices in Northern Colorado and the Boulder Valley increased across the board in May, according to new data released by CoreLogic.

Greeley experienced the biggest increase, with home prices up 13.6 percent year-over-year in May, according to CoreLogic’s (NYSE: CLGX) Home Price Index.

Home prices in Fort Collins increased by 9.4 percent in May 2014 compared to May 2013, including distressed sales. Boulder also had an increase with home prices rising 7.8 percent, according to the report. CoreLogic does not track data for Broomfield.

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Statewide, Colorado home prices have increased 8.6 percent since May 2013, including distressed sales, slightly below the national average of an 8.8 percent increase in the same period.

“Home prices are continuing to climb across most of the country which has both positive and negative implications for the housing market,´ said Anand Nallathambi, president and chief executive of CoreLogic, in a statement. “While the rapid rise in prices over the past two years has lifted many homeowners out of negative equity, it has also become a negative factor in buying decisions for prospective purchasers weighing affordability concerns.