Home Prices Continue Year-Over-Year Climb

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Home prices continued to climb through the end of the summer, according to data released Tuesday from two separate market research firms.

National home prices in July increased by 7.4% from the previous year, according to a report from CoreLogic in Irvine, Calif. July marked the 29th straight month of year-over-year increases.

Eleven states in the firm’s home price index, along with the District of Columbia, recorded their highest price levels since 1976, when the firm began collecting home price data. Those states include Alaska, Colorado, Iowa, Louisiana, Nebraska, North Dakota, Oklahoma, South Dakota, Tennessee, Texas and Vermont.

Meanwhile, Clear Capital in Truckee, Calif., said on Tuesday that home prices jumped 8% in August from a year earlier.

Western states experienced the highest year-over-year growth rate, led by a 16.5% increase in prices in the San Francisco, according to the Clear Capital report.

Article source: http://www.nationalmortgagenews.com/news/origination/home-prices-continue-year-over-year-climb-1042508-1.html

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