Home prices nationwide increased a slight 1.1% over last year in April, making it the second year-over-year increase in 2012, real estate research firm CoreLogic said.
Compared to March, home prices, including distressed sales, increased by 2.2% in April.
Excluding distressed sales, April prices grew 2.6% from March and 1.9% from last year, according to CoreLogic’s April Home Price Index.
“We see the consistent month-over-month increases within our HPI and pending HPI as one sign that the housing market is stabilizing,” said Anand Nallathambi, president and CEO of CoreLogic. “Home prices are responding to a restricted supply that will likely exist for some time to come — an optimistic sign for the future of our industry.”
States with the highest price appreciation included Arizona with prices up 8.8% in April, followed by District of Columbia (6.4%); Florida (5.5%), Montana (5.4%) and Utah (5.4%).
Those with the greatest price depreciation included Delaware (-11.9%), Illinois (-6.8%), Alabama (-6.6%), Rhode Island (-6.2%) and Georgia (-5.6%).
kpanchuk@housingwire.com
