For first time in two years, U.S. home prices appreciate in consecutive months: CoreLogic

TRD New York /
Jun.June 05, 2012 02:30 PM

Home prices rose 1.1 percent in April over the previous 12 months, according to a CoreLogic Home Price Index released today, offering more evidence that the national housing market is improving even as the closely watched Case-Shiller Index remains stuck in negative territory¬†(although its latest data is from March). CoreLogic found April to be the second consecutive month of positive annual returns, the first time that’s happened in nearly two years. April’s prices were also 2.2 percent greater than home prices were in March.

Excluding foreclosure sales and short sales, housing prices increased 1.9 percent annually and 2.6 percent on a monthly basis.

“Excluding distressed sales, home prices in March and April are improving at a rate not seen since late 2006 and appreciating at a faster rate than during the tax-credit boomlet in 2010,” said Mark Fleming, chief economist for CoreLogic.

The report predicted the trend towards increasing prices would continue, as CoreLogic’s newly launched pending home price index, which measures the price changes in homes currently under contract and not yet closed, indicated that prices would increase by an additional 2 percent in the May 2012 reading.

In the New York-White Plains, N.Y.-Wayne, N.J. market, single-family home prices jumped 1.3 percent year-over-year. Excluding distressed sales, the increase was 1.4 percent. New York state as a whole saw a 2.9 percent annual appreciation in home prices, according to the report.

While CoreLogic’s findings were positive, its contradiction of the recently reported Case-Shiller numbers further clouds consumers’ already blurry perceptions on the true state of the housing market. — Adam Fusfeld


Related Articles

arrow_forward_ios
Clockwise from right: Hong Kong; Columbo, Sri Lanka; and Zagreb, Croatia (Credit: Wikipedia, iStock)

The best real estate markets on earth over the last decade

The best real estate markets on earth over the last decade
Home buyers have for decades been advised to never put a less than 20 percent down payment on a house, but 70% of young home-buyers are willing to break that rule this year (Credit: iStock)

Millennials are ready to break the golden rule of home-buying

Millennials are ready to break the golden rule of home-buying
Keeping lawns freshly cut and outdoor spaces in tip-top shape could result in greater rewards for sellers. (Credit: iStock, IMDB)

Curb your enthusiasm: Homes with spruced-up outsides sell at premium

Curb your enthusiasm: Homes with spruced-up outsides sell at premium
Seattle, Washington (Credit: iStock)

Good luck buying an affordable home in these US cities

Good luck buying an affordable home in these US cities
Home prices are on the rise, and homeowners are opting to stay in their homes longer (Credit: iStock)

Home prices accelerate nationally as owners stay longer

Home prices accelerate nationally as owners stay longer
The Mountain States saw the fastest home-price growth of any region (Credit: iStock)

Millennials head west for housing, and institutional investors follow

Millennials head west for housing, and institutional investors follow
NYC startup is under contract to buy its first Miami condo as crowdfunding investment

NYC startup is under contract to buy its first Miami condo as crowdfunding investment

NYC startup is under contract to buy its first Miami condo as crowdfunding investment
From left: London, Shanghai and Paris

In London, WeWork already reaping rewards of planned Brexit: Global property

In London, WeWork already reaping rewards of planned Brexit: Global property
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...