LPS House Price Index Posts Gain in 2012
House prices rose 5.8% in 2012 after edging up 0.1% from November to December, according to Lender Processing Services.
The LPS HPI registered $207,000 as of Dec 31, which is “down nearly 22% from the national peak in June 2006,” according to the provider of technology, data and analytics.
Four of the five largest states (California, Florida, New York, and Texas) saw monthly appreciation in December, while prices in New Jersey slipped 0.2% since November.
Of the five largest metropolitan areas, Dallas, Los Angeles and New York posted price gains, while Chicago and Washington experienced month-over-month price declines of 0.3% and 0.1%, respectively.
Meanwhile, Nevada posted the biggest upward move in prices in December, rising 1.3% from November.
For the full year, prices are up 16.5% in Arizona and in Phoenix are up 20% since 2011.
The LPS HPI includes sales of distressed properties.