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

Annual home prices rebound and rise 2.6%: LPS

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

Home prices grew 2.6% over last year in August with the average home price hitting $205,000, according to the latest Home Price Index from Lender Processing Services.  

Since the start of this year, prices have edged up 4.6%, suggesting 2012 was in fact the year of a modest housing turnaround. In August 2011, the average home price hovered at $199,000. By January 2011, the average price had fallen to $196,000, but regained traction in the months following.

LPS' index bases its home price report on sales transacted during the period rather than on deals recorded to offer a more accurate look at pricing levels. The survey makes its final conclusions after analyzing data from 15,500 U.S. zip codes and adjusting for price discounts on distressed assets.

Minnesota experienced the largest price gain with the average home sale value edging up 1.2% from July to August.  

Rhode Island, on the other hand, was at the bottom of the list with its average sales price dropping 0.6% month-to-month.

Arizona is highlighted in the LPS report as a significant turnaround state, with prices rising 14.1% over year ago levels in August.

The Phoenix-Mesa-Scottsdale market saw prices jump 16.9% from year ago levels in August.


Recent Articles by Kerri Panchuk

Comments powered by Disqus