Home prices have continued rising across the country despite a slowdown in real estate activity going into 2014. The latest data from June showed that the trend continued into the summer.
Property information provider CoreLogic said that its June CoreLogic Home Price Index (HPI) report showed that home prices increased 7.5% in June 2014 compared to June 2013. This included data from distressed sales, which include short sales and real estate owned (REO) transactions.
Among the states, only Arkansas posted a decline in home values (of 0.4%) in June 2014 vs. June 2013.
According to CoreLogic 12 states – including Alaska, Colorado, District of Columbia, Iowa, Louisiana, Nebraska, North Dakota, Oklahoma, South Dakota, Tennessee, Texas, Vermont and Wyoming — reached new all-time highs in the Home Price Index. This dates back to when the index started, in January 1976.
When distressed sales are taken out of the calculation, home prices nationally increased 6.9% in June 2014 compared to June 2013, and 0.9% versus May 2014.
Overall, it was an indication of continued momentum in price gains, driven by last year’s hot market and continued low mortgage interest rates. We’ll see if the trend keeps going once sales and pricing numbers from July and August are available.
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