Another home price index is showing
home prices surging: CoreLogic’s home price index shows that home prices
nationwide in January rose 9.7 percent year-over-year, posting their
largest percentage increase since April 2006.
It was the 11th consecutive month of month-over-month increases in existing-home sales, according to CoreLogic’s index.
"Home prices continued to gather steam across a broad swath of the
country in January, continuing the positive trend we saw during most of
2012," says Anand Nallathambi, president and CEO of CoreLogic. "Many
states across the western U.S. and along the East Coast saw average
price gains of more than 6 percent, which is likely to boost home sale
activity into the first half of 2013.”
The states seeing the biggest year-over-year rises in home prices in
January were Arizona (20.1%), Nevada (17.4%), Idaho (14.9%), and
California (14.1%), according to CoreLogic’s index. The only states not
seeing year-over-year price increases were Delaware (-0.1%) and Illinois
(-0.4%).
Source: “Home Prices Take Biggest Leap in 7 Years,” Inman News (March 5, 2013)