Home Prices Trending at Fastest Upward Pace Since 1977

Inman News

7 August  2013

U.S. home prices rose for the 16th consecutive month in June and are trending at the fastest upward pace since 1977, CoreLogic reported today.

Including distressed sales, Core Logic’s Home Price Index was up 1.9 percent from May to June and 11.9 percent from a year ago. CoreLogic’s Pending Home Price Index predicts prices increased 1.8 percent from June to July.

The five states with the greatest annual home price appreciation (including distressed sales) were: Nevada (26.5 percent), California (21.4 percent), Wyoming (16.7 percent), Arizona (16.2 percent) and Georgia (14.3 percent).

“In the first six months of 2013, the U.S. housing market appreciated a remarkable 10 percent,” said Mark Fleming, chief economist at CoreLogic. “This trend in home price gains is moving at the fastest pace since 1977.” Source: corelogic.com.