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Home prices last month experienced a 6.8 percent year-over-year increase and a 1.1 monthly uptick, according to new data from CoreLogic.
Washington led the nation with the greatest year-over-year home price activity, with a 12.5 percent rise. Colorado and Florida followed at 10.5 percent and 10.2 percent, respectively.
Furthermore, CoreLogic’s Home Price Index Forecast is pointing to a 5.2 percent increase in between February 2016 and February 2017, while the month-over-month forecast is for a modest 0.6 percent bump-up in March.
"Home prices continue to rise across the U.S. with every state posting year-over-year gains during the last 12 months," said Anand Nallathambi, president and CEO of CoreLogic. "Improved economic conditions and tight inventories continue to drive exceptionally strong gains in many markets, especially for homes priced below $500,000."