Washington in the Top 5 States Registering the Largest Increases in Home Price Appreciation

Nationally, home price appreciation continued to rise according to CoreLogic’s July Home Price Index report. Including distressed sales, home prices increased by 6.9% on a year-over-year basis and were 1.7% higher than in June. CoreLogic is forecasting home price appreciation to make another increase between July and August by 0.5%.

Anand Nallathambi, CoreLogic’s President and CEO, stated, “Low mortgage rates and stronger consumer confidence are supporting a resurgence in home sales of late. Adding to overall housing demand is the benefit of a better labor market which has provided millennials the financial independence to form new households and escape ever-rising rental costs.”

In the states that showed the largest year-over-year increase in home price appreciation in July was Washington. When including distressed sales, Washington’s home prices rose by 9.9%. Idaho (+4.8%), Montana (+4.7%), and Wyoming (+2.6%) also saw increases in home prices on a 12-month basis. To read the full report, visit http://bit.ly/1EFPUf1.

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