Home prices nationwide, which
includes distressed sales, soared 10.2 percent year-over-year, according
to CoreLogic’s February report. It’s the largest year-over-year
increase in home prices since March 2006. It also marks the twelfth
consecutive monthly increase in national home prices, according to
CoreLogic’s report.
When excluding distressed sales, home prices rose 10.1 percent year-over-year in February, according to CoreLogic.
“Nationally, home prices improved at the best rate since mid-2006,
marking a full year of annual increases and underscoring the ongoing
strengthening of market fundamentals,” says Anand Nallathambi, president
and CEO of CoreLogic.
CoreLogic predicts that home prices -- excluding distressed sales --
will likely rise 11.4 percent year-over-year from March 2012.
“The rebound in prices is heavily driven by western states,” says
Mark Fleming, CoreLogic’s chief economist. “Eight of the top ten highest
appreciating large markets are in California, with Phoenix and Las
Vegas rounding out the list.”
Source: CoreLogic