CHART OF THE DAY: Home Prices Are Rising At The Fastest Pace Since February 2006

Home prices (including distressed sales) climbed 12.1% year-over-year in April, according to Corelogic's latest home price report. Home prices were up 3.2% month-over-month in April. 

This was the biggest year-over-year increase since February 2006, and the 14th straight monthly increase. Moreover, on an annual basis, home prices were up in all 50 states for the second straight month. 

Ex-distressed sales home prices were up 11.9% on the year, and 3% on the month. 

"Increasing demand for new and existing homes, coupled with low inventory, has created a virtuous cycle for price gains, most clearly seen in the Western states with year-over-year gains of 20 percent or more," said Mark Fleming, CoreLogic CEO in a press release. 

Here some details from the report:

Including distressed sales home prices rose the most in Nevada, up 24.6% and fell the most in Mississippi, down 1.7%.Ex-distressed sales home prices climbed the most in Nevada, up 22.6%, and none state saw home prices fall.The peak-to-current decline in home prices, from April 2006 to April 2013, was -22.4%.The CoreLogic Pending home price index suggests that May home prices will rise 12.5% on a YoY basis, and 2.7% on a monthly basis.

Here's a look at home prices from January 2002 on:

CoreLogic

Please Note: Business Insider will never share your information with any other companies. You also have the ability to unsubscribe from these newsletters at any time simply by following the unsubscribe link located at the bottom of each email

Please follow Money Game on Twitter and Facebook.
Follow Mamta Badkar on Twitter.
Ask Mamta A Question » Tags: CoreLogic, Home Prices, Chart Of The Day | Get Alerts for these topics »

x

To embed this post, copy the code below and paste into your website or blog.

x

The Chart of the Day widget displays the latest published chart from Business Insider. To embed, copy the code below and paste into your website or blog.

View the original article here