Thursday
December 18, 2014

Almost Half of States Near Home Appreciation Peaks

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Almost Half of States Near Home Appreciation Peaks

Home prices are continuing to rise heading into the summer months, according to CoreLogic’s latest Home Price Index, which shows nationwide home prices, including distressed sales, rising 10.5 percent in April compared to year-ago levels.  

“The purchase market continues to suffer from a dearth of inventory, which we expect will continue to drive prices up over the year,” says Anand Nallathambi, president and CEO of CoreLogic. 

In fact, no states posted drops to their home prices in April, according to CoreLogic’s index. What’s more, several states surpassed their previous home price peaks, including: Colorado, Louisiana, Nebraska, Oklahoma, North Dakota, South Dakota, Texas, and Wyoming. 

Twenty-three states as well as the District of Columbia also are at or within 10 percent of their home price appreciation peak, according to CoreLogic. 

The five states with the highest home appreciation (including distressed sales) in April year-over-year are: 

  • California: 15.6%
  • Nevada: 14.8%
  • Hawaii: 14.1%
  • Oregon: 11.8%
  • Michigan: 11.3%

Source: CoreLogic

Read more:

Analysts Still Bank on 7% Home Appreciation
This Housing Market Is Sizzling