Home prices take biggest leap in 7 years, reported by InMan News

Corelogic: Prices in January up 9.7 percent from a year ago

BY INMAN NEWS, TUESDAY, MARCH 5, 2013.

Inman News®

National home prices in January were up 9.7 percent from a year ago, the biggest annual increase since April 2006, according to data aggregator CoreLogic’s home price index.

The index, which tracks repeat sales of single-family homes, rose 0.7 percent in January from December, marking the 11th consecutive month of month-over-month increases.

“Home prices continued to gather steam across a broad swath of the country in January, continuing the positive trend we saw during most of 2012,” said Anand Nallathambi, president and CEO of CoreLogic, in a statement.

“Many states across the western U.S. and along the East Coast saw average price gains of more than 6 percent, which is likely to boost home sale activity into the first half of 2013,” Nallathambi said.

All U.S. states but Delaware (-0.1 percent) and Illinois (-0.4 percent) saw year-over-year increases in January, according to the index.

Arizona (20.1 percent), Nevada (17.4 percent), Idaho (14.9 percent), California (14.1 percent) and Hawaii (14 percent) topped the chart of states with home price increases in January from a year ago.

As you peruse this article, keep in mind this is a result of the two indicators we Blogged earlier this year, February 14, 2013, the foreclosures being hindered by AB284 & AB300 and the lack of current inventory.  However, in an earlier Blog, RealtyTrac reported over 1100 NOD’s filed in January of this year.  We here at Platinum Elite Group want to make you aware of this fact, prior to you making any listing or selling decisions.  For a property valuation you may contact our office at PlatinumElite.com , email us at info@platinumelite.com or call us at 702-869-9999.

 

One response to “Home prices take biggest leap in 7 years, reported by InMan News

  1. Pingback: Rising Interest Rates Curtail Mortgage Activity as Reported by MND Newswire | Platinum Elite Group

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