Industry analytics company CoreLogic released its July Home Price Index today, and the data supports what we’ve been saying here on The Agency Blog: home prices are on the rise. CoreLogic reports that nationwide home prices increased by 3.8 percent in July 2012 compared to July 2011. This marks the biggest year-over-year increase since August 2006. CoreLogic also found that home values rose 1.3 percent in July from June, marking the fifth straight increase in both the monthly and year-over-year price indexes.
The new report released today joins other national measures declaring that the housing market is officially on the upswing. Just last week we reported that the S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the U.S., jumped 6.9% this spring compared to the first three months of 2012.
“The housing market continues its positive trajectory with significant price gains in July and our expectation of a further increase in August,” said Mark Fleming, chief economist for CoreLogic.
Out of 100 large cities tracked by CoreLogic, more than 75 percent posted year-over-year increases in July.
Read more about the increase, including which states have seen the biggest gains, here.
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