Home prices nationwide, as well as those in the New York City area, have increased, according to data released today by CoreLogic.
On a nationwide basis, home prices, which include distressed sales, increased year-over-year in July by 3.8 percent. This marks the biggest year-over-year increase since August 2006. Month-over-month, also including distressed sales, U.S. home prices climbed 1.3 percent, making it the fifth consecutive home-price increase both year-over-year and month-over-month.
In the New York-White Plains-Wayne, NY-NJ region, home prices saw a 3.4 percent year-over-year increase in July, which also included distressed sales; month-over-month, prices went up 3 percent. Excluding distressed sales, prices saw a 3.1 percent year-over-year uptick. New York state as a whole had a 5.4 percent year-over-year increase in home prices including distressed sales. Excluding them, prices went up 5.2 percent in the 12 months ending in July.
As The Real Deal reported last week, New York posted a 2.1 percent increase in prices in June over May, according to S&P/Case-Shiller data.
Both including and excluding distressed sales, Arizona saw the highest appreciation year-over-year — 16.6 percent and 11.3 percent, respectively. In fact, the Phoenix-Mesa-Glendale area saw a 19.9 percent year-over-year jump including distressed properties and a 14.9 percent year-over-year climb excluding them.
For the same categories, Delaware saw the greatest depreciation: 4.8 percent including distressed sales and 3.5 percent excluding them. — Zachary Kussin