Home Prices Improve at Fastest Rate Since 2006, Driven by Western States

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Posted To: MND NewsWire

Rapidly rising home prices were confirmed by another report this morning, this one from CoreLogic. Its Home Price Index (HPI) jumped 10.2 percent on an annual basis in February, the biggest year-over-year increase since March 2006 and the 12 th consecutive month that home prices have risen nationally. The HPI, which includes sales of distressed properties, also increased on a monthly basis, rising 0.5 percent from January to February 2013. When sales of lender-owned real estate (REO) and short-sales are excluded from the calculations home prices increased by 10.1 percent on an annual basis and 1.5 percent from January to February. CoreLogic's Pending HPI for March indicates another 10.2 percent increase from March 2012 and a 1.2 percent increase from January to February. Excluding distressed...(read more)

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Source: http://www.mortgagenewsdaily.com/04032013_home_prices_corelogic_hpi.asp

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