Houston home prices gain most nationwide

While home price declines have been widespread on a national level, the same trend has not been seen in the Houston real estate market. A new report from CoreLogic says that local home values have risen again.

According to the study, the prices of Houston homes in November were 2.48 percent above their year ago levels - the most price appreciation of any city included in the report. Just five cities showed positive home price growth over the period.

On a national level, home prices fell by 5.07 percent compared to the previous year when accounting for distressed sales. Even without distressed properties, prices still slipped 2.21 percent.

"We're continuing to see the influence of seasonal declines that typically depress home prices during the latter part of the year, but the fact that the rate of decline increased for November is indicative of the uphill battle we're facing with the housing recovery," said Mark Fleming, chief economist for CoreLogic.

While prices in Houston have remained steady, the pace of home sales has slowed significantly since the expiration of the federal tax credit over the summer. According to the National Association of Realtors, home sales in November were down 21.5 percent compared to the year before.