Home Price Gains Remain Strong in the West

Compared to April 2012, and including distressed sales, home price appreciation was up 12.1% nationwide based on CoreLogic’s April 2013 Home Price Index report. In comparison to March 2013, April home prices were 3.2% greater. What is more, excluding non-distressed sales, all states experienced home price increases in April compared to a year ago. CoreLogic’s chief economist, Mark Fleming, explains, “Increasing demand for new and existing homes, coupled with low inventory, has created a virtuous cycle for price gains, most clearly seen in the Western states with year-over-year gains of 20 percent or more.” 

Indeed, whether including or excluding distressed sales, home prices rose again in Idaho, Montana, Washington and Wyoming on a year-over-year basis. Idaho home prices increased by 13.2% when including distressed sales and increased 16.4% when excluding distressed sales. Montana home prices increased 6.2% with distressed sales and increased 8.2% without distressed sales. Washington home prices were 13.2% greater this year when including distressed sales and 13.9% greater when excluding distressed sales. Wyoming’s home prices rose 11.9% when including distressed sales and 12.1% when excluding distressed sales. To view the full report, go to http://bit.ly/11VPrkD.

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