CoreLogic: Home Prices are Increasing at Fastest Rate in 5 Years

More good news from housing as CoreLogic, an independent provider of home price data, reports the largest jump in home prices in 5 years:

“Home prices nationwide, including distressed sales, increased on a year-over-year basis by 5 percent in September 2012 compared to¬†September 2011. This change represents the biggest increase since July 2006 and the seventh consecutive increase in home prices nationally on a year-over-year basis.¬† On a month-over-month basis, including distressed sales, home prices decreased by 0.3 percent in September 2012 compared to August 2012*. The HPI analysis from CoreLogic shows that all but seven states are experiencing year-over-year price gains.

Excluding distressed sales, home prices nationwide also increased on a year-over-year basis by 5 percent in September 2012 compared to September 2011. On a month-over-month basis excluding distressed sales, home prices increased 0.5 percent in September 2012 compared to August 2012, the seventh consecutive month-over-month increase. Distressed sales include short sales and real estate owned (REO) transactions.”

Cullen Roche

Mr. Roche is the Founder of Orcam Financial Group, LLC. Orcam is a financial services firm offering research, private advisory, institutional consulting and educational services.

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Comments

  1. cash buying by hedge/PE funds is the new normal, so no doubt this is sustainable

  2. with unemployment as high as it is and wages where they are, who is buying? sorry I’m not buying jack until I see businesses hiring full out and wages at levels people ca afford to buy and not 110% leveraged I will say that housing is stable until then I see a total collapse in home prices back down to 1975 levels!