LPS: Home prices rose 1.8% in July from a year ago
Home prices across the nation rose 1.8% annually in July, according to Lender Processing Services. They ticked up just 0.2% from the previous month.
The Atlanta area saw its prices fall 2.4% in July from a year ago, according to the LPS. In Chicago, they dropped 3% in that period. In these cities and others, LPS’ findings vary from those released by Case-Shiller.
Las Vegas prices are up 6.6% since July 2011, which contradicts Case-Shiller’s finding that they are down 1% Case-Shiller. And in New York, LPS found that prices rose a slight 0.2% from a year ago, rather than dropping nearly 3% as Case-Shiller reported.
Year-to-date, home prices are up 4.3% nationally, LPS found.
Most U.S. housing markets are stable or in recovery with a few industrial areas still battling high unemployment and a weak real estate market, according to Move Inc.
Data from August shows inventory levels on a downward trajectory and prices beginning to stabilize.
See the chart below to check out LPS' biggest movers by state in terms of monthly home price changes.