A study by CoreLogic, a residential property information provider, indicates that home prices are climbing again. The January CoreLogic HPI report found home price nationwide, including distressed sales, increased by 9.7% in January 2013 compared to January 2012. CoreLogic says this is the biggest climb since April 2006 and the 11th consecutive month showing home price growth.
Mark Fleming, chief economist for CoreLogic, said in a statement, "The HPI showed strong growth during the typically slow winter season. ith these gains, the housing market is poised to enter the spring selling season on sound footing. The improvements are materializing across the country, with all but Delaware and Illinois showing increasing HPI and 15 states within 10 percent of their peak values."
CoreLogic says only two states - Delware and Illinois - are not experiencing year-over-year gains in home prices. The chart below shows the strongest gains in Phoeniz, Arizona. CoreLogic says the five states with the highest home price appreciation were: Arizona (+20.1%), Nevada (+17.4%), Idaho (+14.9%), California (+14.1%) and Hawaii (+14.0%).