US Home Prices Continue to Soar, Latest Index Shows

US home prices, including distressed sales, have experienced their 19th consecutive monthly year-on-year increase rising 12% in September 2013 compared to September 2012, the latest index from CoreLogic shows.

US Home Prices Continue to Soar, Latest Index Shows

The index also details the month-on-month results, declaring that home prices, including distressed sales, increased by 0.2% in September 2013 compared with the previous month and by 0.3% when distressed sales are excluded.

The report also identifies the five states with the highest home price appreciation during the month of September, who were Nevada with a growth of 25.3%, California up 22.5%, Arizona up 14.6%, Georgia up 14.4% and Michigan up 13.9%

When distressed sales are excluded, the five states with the highest home price appreciation are Nevada up 22.4%, California up 18.9%, Utah up 13.2%, Arizona up 12.6%, and Florida up 12.6%

The CoreLogic Pending HPI also expects home prices in October 2013, including distressed sales, to rise by 12.5% on a year-on-year basis from October 2012, and to rise by 0.1% month-on-month.

When distressed sales are excluded, October 2013 home prices are set to rise 11.2% year-on-year and rise 0.1% month-on-month.

The CoreLogic Pending HPI is a metric that provides current indication of trends in home prices. It is based on the Multiple Listing Service (MLS), which provides data which measures price changes for the most recent month.

Article adapted from Property Wire


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