Home Prices Rise to Six Year High

Home prices, including distressed properties, soared by the largest gain since May 2006, rising 8.3 percent in December on a year-over-year basis, according to the latest housing figures from CoreLogic. This is the tenth consecutive month for increases in nationwide home prices, according to CoreLogic.

When foreclosures and short sales are excluded from the mix, home prices rose 7.5 percent year-over-year, according to CoreLogic.

Nearly every state posted gains in December, except for Pennsylvania, New Jersey, Illinois, and Delaware.

The following states posted the highest gains in December in prices, when including distressed sales:

Arizona: 20%
Nevada: 15.3%
Idaho: 14.6%
California: 12.6%
Hawaii: 12.5%
“We are heading into 2013 with home prices on the rebound,” says Anand Nallathambi, CoreLogic president. “All signals point to a continued improvement in the fundamentals underpinning the U.S. housing market recovery.”

To view the original article, click here: http://realtormag.realtor.org/daily-news/2013/02/06/corelogic-home-prices-post-largest-gain-in-6-years


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