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Home Prices Have Risen For 40 Consecutive Months
Friday, August 14, 2015 6:45 AM

CoreLogic reported that national home prices in June 2015 increased 6.5 percent year over year and 1.7 percent month over month. This marks 40 months of consecutive year-over-year increases in the CoreLogic Home Price Index (HPI). Prices were still 7.4 percent below the April 2006 peak.

Fifteen states and the District of Columbia reached new HPI highs in June 2015. The 15 states are Alaska, Arkansas, Colorado, District of Columbia, Hawaii, Iowa, Kentucky, Nebraska, New York, North Carolina, North Dakota, Oklahoma, South Dakota, Tennessee, Texas, and Wyoming. From this group, Colorado had the largest year-over-year home price appreciation at 9.8 percent, followed by New York (8.3 percent), Texas (6.9 percent), South Dakota (6.7 percent), and North Dakota (6.4 percent).

CoreLogic analyzes four individual home-price tiers that are calculated relative to the median national home price. The four price tiers are:

  • homes priced 75 percent or less below the median (low price);
  • homes priced between 75 and 100 percent of the median (low-to-middle price);
  • homes priced between 100 and 125 percent of the median (middle-to-moderate price); and
  • homes priced greater than 125 percent of the median (high price).

Of the four price tiers, the low-price tier has shown the most growth in recent months, increasing 11.8 percent year over year and 12.7 percent in 2015 alone. It is the only price tier to pass its pre-crisis peak. The low-to-middle tier has grown by 7.3 percent year over year. The middle-to-moderate price tier increased 6.2 percent year over year and the high price tier increased 4.8 percent year over year in June 2015.

Source:  CoreLogic, 10 August 2015