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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  • jswede

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

  • Rich

    Let’s get this bubble started !…Yeehaw !!!

  • ilya

    read the wording: “excluding distressed sales”

  • ilya

    my bad, chart says they are converging even if distressed are included

  • Mark

    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!