U.S. home prices climbing at fastest pace since 1977

New York /
Aug.August 06, 2013 12:00 PM

Home prices (including distressed sales) climbed 11.9% year-over-year in June, according to CoreLogic’s latest home price report. This is the 16th straight monthly rise in home prices. Prices were up 1.9% month-over-month.

Ex-distressed sales (short sales and REO transactions), home prices were up 11% on the year, and 1.8% MoM.

Meanwhile, in the first half of the year, home prices were up 10%. “This trend in home price gains is moving at the fastest pace since 1977,” said CoreLogic’s chief economist, Mark Fleming in a press release.

Here are some details from the report:

  • Including distressed sales home prices rose the most in Nevada, up 26.5% and fell the most in Mississippi, down 2.1%.
  • Ex-distressed sales home prices climbed the most in Nevada, up 23.6%, and no state saw home prices fall.
  •  The peak-to-current decline in home prices, from April 2006 to June 2013, was 19%.
  • The CoreLogic Pending home price index suggests that home prices will rise 12.5% on a YoY basis in July, and 1.8% on the month.

Related Articles

arrow_forward_ios
Exhausting other options, buyers flock to fixer-uppers
Exhausting other options, buyers flock to fixer-uppers
Exhausting other options, buyers flock to fixer-uppers
(iStock)
Up, up and away: Home prices soar beyond buyers’ reach
Up, up and away: Home prices soar beyond buyers’ reach
(iStock)
Canada’s surging housing market may be peaking
Canada’s surging housing market may be peaking
Of the 110 metro areas with at least half a million people, 29 saw losses in 2020. (iStock)
More urban areas lost population in 2020
More urban areas lost population in 2020
Zillow CEO Rich Barton (Getty)
Zillow profits hit record $52M in Q1
Zillow profits hit record $52M in Q1
(Getty, iStock/Illustration by Alexis Manrodt for The Real Deal)
Renters prepare for eviction crisis as aid is held up
Renters prepare for eviction crisis as aid is held up
2468 Kenmore Street in East Meadow (Google Maps)
Long Island man evades eviction for 20 years
Long Island man evades eviction for 20 years
Every region except the Midwest saw month-over-month and year-over-year increases in pending sales. (iStock)
Pending home sales rebound
Pending home sales rebound
arrow_forward_ios

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

Loading...