Home Prices Rise 9.7%

Home prices as measured by the CoreLogic Home Price Index (HPI) had the largest annual increase in January that it had experienced since April 2006.  The January number was up 9.7 percent from January 2012 and represented the 11th consecutive month the HPI, which includes distressed sales, increased from its level one year earlier. The index was up 0.7 percent from December.  All but two states, Delaware and Illinois are experiencing year-over-year price gains. 

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The HPI which excludes distressed sales was up 9.0 percent compared to one year earlier and 1.8 percent from December.  There were no states in which prices of homes, excluding distressed sales, i.e. lender-owned real estate (REO) or short sales, declined on an annual basis.  Read More...