Home prices have been rising for 17 consecutive months and the states of California and Nevada have posted the highest annual price gains of 27% and 23%, respectively, according to CoreLogic.
“Home prices continue to climb across the nation in July with markets hit hardest during the downturn leading the way,” said Anand Nallathambi, president and chief executive of CoreLogic.
Other states with the highest price increases since July 2012 are: Arizona (up 17%), Wyoming (16%), and Oregon (15%).
Nationally, house prices jumped 1.8% in July from the prior month, according to the CoreLogic house price index, which has posted consecutive monthly price increases for 17 months.
The July
CoreLogic chief economist Mark Fleming expects price increases will moderate in the months ahead.
“Home prices continued to surge in July,” Fleming said Monday morning. “Looking ahead to the second half of the year, price growth is expected to slow as seasonal demand wanes and higher mortgage rates have a marginal impact on home purchase demand.”
Nationally, home prices are within 18% of their peak levels in April 2006.
