Home prices have risen for the 17th consecutive month, according to CoreLogic’s house price index, increasing 1.8 percent nationally July over June, 2013. “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. Year-over-year the report says sales are up 12.4 percent over July 2012, including distressed sales, and 11.4 percent excluding REO (real estate-owned) and distressed sales. Arizona reports the largest price increase with a 17 percent increase, followed by Wyoming at plus 16 percent and Oregon with an increase of 15 percent. CoreLogic chief economist Mark Fleming says home price rises will taper as mortgage rates increase and seasonal demand declines. According to what nationalmortgagenews tells MHProNews, home prices are within 18 percent of their April 2006 peak levels.
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