CoreLogic Home Price Index July Report Shows Nationwide Increase

4 Sep

 

The increase of 12.4% over 2012, which includes distressed sales, represents the seventeenth straight month where national home prices rose on an annual basis. Home prices also saw monthly gains, up 1.8% from June 2013.

 

 

 

Excluding distressed sales, home prices were up 11.4% in July compared to the same month in 2012 and rose 1.7% from June.

 

Price growth is expected to slow as seasonal demand wanes and higher mortgage rates have a marginal impact on home purchase demand.

 

August home prices, including distressed sales, are expected to rise by 12.3% year-over-year, according to the CoreLogic Pending HPI. On a monthly basis, prices will increase 0.4% from July, the index predicts.

 

 

The five states with the highest home price appreciation, including distressed sales, were Nevada (up 27%), California (up 23.2%), Arizona (up 17%), Wyoming (up 16.4%), and Oregon (up 15%).

 

 

Nevada, Florida, Arizona, Rhode Island, and Michigan are the five states with the largest peak-to-current declines, ranging from 27.7% to 43%.

Read the entire CoreLogic HPI report for July 2013 here.

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