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Home prices surge to highest level in almost seven years

Fuente : Albuquerque Business First – Apr 3, 2013 – by Damon Scott

Home prices across the U.S. increased 10.2 percent from February 2012 to February 2013, representing the largest year-over-year jump since March 2006.

According to new home price index data released by CoreLogic, it is also the 12th consecutive monthly increase in home prices nationally.

Comparing January 2013 to February 2013, the rise was more subdued, with an increase of 0.5 percent. Both increases included distressed sales, such as short sales and real estate owned (REO) transactions.

Home prices in the Albuquerque area increased 2.6 percent in February compared to a year ago. However, in a month-to-month comparison of January 2013 to February 2013, Duke City-area home prices fell 2.1 percent.

Of the top 100 areas measured by population, 96 showed year-over-year increases in February, up from 94 in January.

The five states with the highest price increases compared to one year ago, including distressed sales, are Nevada (+19.3 percent), Arizona (+18.6 percent), California (+15.3 percent), Hawaii (+14.6 percent) and Idaho (+13.5 percent).

The CoreLogic data suggests that March home prices, including distressed sales, will rise by 10.2 percent on a year-over-year basis and 1.2 percent on a month-over-month basis.

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