US: Home Prices up in August


Home prices in August posted the largest annual increase in over six years according to data released this morning by CoreLogic. The company’s August Home Price Index (HPI) was up 3.6 percent over the August 2011 index number and was 0.3 percent above the index in July 2012. This is the sixth consecutive month that home prices have increased nationally on both a month-over-month and year-over-year basis. CoreLogic’s HPI, which includes distressed sales, increased in all but six states

Excluding distressed sales – sales of bank owned real estate (REO) and short sales – home prices increased 4.9 percent on an annual basis in August and 1 percent from the July index.

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