Great time to buy

Houston Business Journal by Shaina Zucker, Reporter

While many U.S. cities that saw hard times during the housing crisis are gaining momentum this year, Houston-area home prices continue to go strong, according to residential property data provider CoreLogic (NYSE: CLGX).

The Houston-Baytown-Sugar Land area saw a 6.6 percent increase in single-family home prices in September compared to the same month in 2011, according to the company's index that includes distressed homes.

Nationwide, home prices increased on a year-over-year basis by 5 percent in September — representing the biggest increase since July 2006.

CoreLogic determines its index using a multitier evaluation, which includes price, the length of time between sales, property, property type, and distressed or not distressed single-family homes....