CoreLogic Data, National Home Prices Rising

National home prices rose 2.5 percent in the year ending June 2012—the fourth such increase in a row. They were 1.3 percent higher in the month.

Palm Coast, FL – August 8, 2012 – The National Association of Realtors® Research staff analyzes recently released economic indicators and addresses what these indicators mean. Today’s update discusses CoreLogic home price data.

• CoreLogic data out yesterday showed that national home prices rose 2.5 percent in the year ending June 2012—the fourth such increase in a row.  They were 1.3 percent higher in the month.
• Excluding distressed sales, CoreLogic showed slightly higher increases of 3.2 percent for the year and 2.0 percent for the month in June 2012.
• Using pending sales, CoreLogic estimates that closed sale prices will be higher for the month and year in July as well.
• In addition to national data and a forecast of next month’s data, CoreLogic reports that the 5 states with the highest appreciation were: Arizona (+13.8 percent), Idaho (10.4 percent), South Dakota (+10.1 percent), Utah (+8.3 percent) and Wyoming (+7.7 percent).
• Thursday, NAR will release quarterly sales prices for the US, 4 Census Regions, and 160 metro areas, and we will see which cities are leading the price growth trend and which have yet to catch on.

Source: National Association of Realtors