Annual Home Price Increase is Largest Since 2006

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Posted To: MND NewsWire

Home prices increased on a year-over-year basis for the ninth consecutive month according to the CoreLogic Home Price Index (HPI) released today. The November HPI was up 7.4 percent from its November 2011 level and represented the largest jump in the index in nearly seven years. On a month-over-month basis the HPI, which includes sales of distressed properties, was up 0.3 percent. CoreLogic said the all but six states are experiencing year-over-year price gains. When short sales and sales of foreclosed properties i.e. distressed sales are excluded from the analysis, home prices nationwide increased by 6.7 percent in November compared to those a year earlier and increased 0.9 percent from October to November. CoreLogic's Pending HPI which is based on Multiple Listing Service data indicates that...(read more)

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Source: http://www.mortgagenewsdaily.com/01152013_corelogic_home_prices.asp

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