This week’s Pacific Union real estate roundup includes a report that home prices in the U.S. have shown year-over-year increases for 17 months in a row. Also, both San Jose and San Francisco rank high in the nation in terms of equity-rich markets.
Year-over-year increases in U.S. home prices continued for the 17th consecutive month in July, according to CoreLogic.
The company’s monthly Home Price Index (HPI) report found that home prices–including distressed sales–grew 12.4 percent year-over-year in July and 1.8 percent from the previous month. Home prices are now within 18 percent of their all-time highs, set in April 2006, according to CoreLogic CEO and President Anand Nallathambi.
Western states led the country in year-over-year price hikes, with Nevada placing first at 27 percent. California came in second with 23.2 percent, followed by Arizona (17 percent), Wyoming (16.4 percent), and Oregon (15 percent).
CoreLogic expects the HPI to show almost identical year-over-year gains in August, when it is predicted to rise 12.3 percent.