Home Prices Continued to Make Gains in September

Some of the hardest hit states during the housing bust showed strong increases in home prices this September based on CoreLogic’s Home Price Index. The top five states with the highest appreciation percentages, including distressed sales, were Arizona (+18.7%), Idaho (+13.1%), Nevada (+11.0%), Hawaii (+8.9%), and Utah (+8.7%). Excluding distressed sales, the top five states were only slightly different with Arizona gaining +14.0%, Idaho +10.5%, Nevada +9.5%, Montana +8.5%, and California +8.4%.

CoreLogic points out in the HPI that all but seven states experienced price gains in September. The year-over-year analysis of September 2012 to September 2011 showed a 5% increase while a month-over-month comparison showed that prices slightly decreased by 0.3% from August 2012 to September 2012. Nevertheless, Corelogic states that the year-over-year increase “represents the biggest increase since July 2006 and the seventh consecutive increase in home prices nationally.” http://bit.ly/RFTMC0

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