FHFA announces 2016 conforming loan limits

FHFA announces 2016 conforming loan limits

Much of U.S. left unchanged; limits increase in 39 ‘high-cost’ counties

Game changer? Quicken Loans takes mortgage lending fully digital

Launches Rocket Mortgage

Google launches mortgage comparison tool with Zillow

LendingTree will also bring mortgages to Google
Real Estate
Upward Trajectory

Home prices continue their upward trajectory

Homes 1
/ Print / Reprints /
| Share More
/ Text Size+

Home prices in June rose for the 16th consecutive month, rising 1.9% from May and jumping 11.9% from year earlier levels, research and analytics firm CoreLogic (CLGX) said Tuesday.

Those numbers include distressed properties – namely short sales and real-estate owned transactions. This is the first time in 36 years that prices have risen at this fast a pace, the research firm suggested.

When CoreLogic excludes distressed sales from its calculation, home prices month-over-month increased 1.8% and grew 11% from June 2012 levels.

"In the first six months of 2013, the U.S. housing market appreciated a remarkable 10%,” said Dr. Mark Fleming, chief economist for CoreLogic. "This trend in home price gains is moving at the fastest pace since 1977."

The first half of the year brought “robust price appreciation,” Anand Nallathambi, president of CoreLogic said. The firm accurately predicted double-digit growth during the first six months of the year.

When including distressed sales, the states experiencing the steepest home price climbs included Nevada, with prices up 26.5%; California (21.4%), Wyoming (16.7%); Arizona (16.2%) and Georgia (14.3%).

Home prices in Mississippi and Delaware saw prices fall 2.1% and 1.1%, respectively.

Recent Articles by Kerri Panchuk

Comments powered by Disqus