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April’s home prices, including distressed sales, experienced a 6.2 percent year-over-year increase and 1.8 percent month-over-month uptick, according to new data from CoreLogic.
Washington led the states with the greatest year-over-year home price increase, with a 10.6 percent spike, followed by Oregon with 10.3 percent. CoreLogic is forecasting that home prices will increase by 5.3 percent on a year-over-year basis from April 2016 to April 2017 and increase 0.9 percent between April and May.
"The appreciation in home prices over the past year reflects the gathering pace of the recovery in housing in most states and regions in the U.S.," said Anand Nallathambi, president and CEO of CoreLogic. "The rate recovery does vary somewhat based on local conditions. Price increases in a significant number of states in the Northeast and Mid-Atlantic regions lagged the national average with Connecticut, Maryland, Pennsylvania, West Virginia, New Jersey and Vermont registering gains of one percent or less over the past year."