By Regina Ludes, Tuesday, 4 September 2012 - 3:19pm
U.S. home prices, including distressed sales, increased 3.8 percent in July compared to a year ago, the biggest year-over-year increase since August 2006, according to the latest CoreLogic Home Price Index report. Home prices also increased 1.3 percent in July compared to June. The July figures mark the fifth consecutive month that home prices rose on both an annual and monthly basis.
Excluding distressed sales, home prices rose 4.3 percent in July from the previous year and increased 1.7 percent from June.
“It’s been six years since the housing market last experienced the gains that we saw in July, with indications the summer will finish up on a strong note,” says CoreLogic’s president and CEO Anand Nallathambi, “Although we expect some slowing in price gains over the balance of 2012, we are clearly seeing the light at the end of a very long tunnel.”
Including distressed sales, Arizona, Idaho, Utah, South Dakota and Colorado had the highest home price appreciation rates, while Delaware, Alabama, Rhode Island, Connecticut and Illinois had the highest deprecation rates.
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