Portland-Vancouver-area home prices increase 8.7 percent in January

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Single-family home prices in the Portland-Vancouver-Hillsboro metro area, including distressed sales, increased by 8.7 percent in January, when compared to the same month last year, according to a report released Tuesday.

CoreLogic, a national provider of residential data, also reported a rise in area home prices on a month-to-month basis. Prices increased by 1.8 percent in January compared to December 2012 based on data that included sales of distressed houses.

CoreLogic defines distressed properties as those with mortgages that are 90 days or more delinquent and thus sold as short sales or bank-owned real estate. Nationwide, home prices, including distressed sales, increased by 9.7 percent in January compared to the same month in 2012.

The five states with the highest home appreciation were Arizona, up 20.1 percent; Nevada, up 17.4 percent; Idaho, up 14.9 percent; and Hawaii, up 14 percent. Home prices, including distressed property sales, were up 8.4 percent in Washington and up 9.1 percent in Oregon.