News Column

Home Prices Continue to Rise Despite Slowdown

May 7, 2013

Staff Reports -- HispanicBusiness.com

hispanic homebuyers

Home prices in the U.S. showed continued strength in March with a rise of 1.9 percent over February, CoreLogic reported Tuesday. Year-over-year gain was 10.5 percent, with the rise marking the 13th month in a row of increasing home prices.

The largest gains were out west, with bumps of 22.2 percent in Nevada and 17.2 percent in California. Arizona, Idaho and Oregon finished out the top five for price gains.

The only states to see falling prices were Illinois, Virginia, Alabama and Delaware.

CoreLogic's numbers for U.S. home prices were even higher when homes that are in danger of foreclosure or have already been seized by creditors are filtered out, with a month-over-month gain of 2.4 percent and a year-over-year rate of 10.7 percent.

The trend is continuing in April, though it is slowing down despite increasing demand from investors and tighter inventory. National home prices are on a pace of 1.3 percent for the month of April and 9.6 percent over a year ago.

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