Home Prices Pick Up Steam as Spring Selling Season Heats Up, CoreLogic Says

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U.S. home prices marched higher in April, with the strongest gains in the West, according to a report out Tuesday.

The national home price index from data provider CoreLogic was 6.9% higher than a year ago, and 1.6% higher than in March. Washington was the hottest state for prices, notching a 12% annual gain. Consumer prices rose just 2.2% in the 12 months ending April, according to the Labor Department.

Only three states saw yearly declines.

State	Yearly home price change
Alabama	6.6%
Alaska	-0.2%
Arizona	6%
Arkansas	6%
California	5.9%
Colorado	8.8%
Connecticut	0.4%
Delaware	-0.2%
District of Columbia	5%
Florida	6.4%
Georgia	5.6%
Hawaii	6.1%
Idaho	6.8%
Illinois	5%
Indiana	5.8%
Iowa	2.3%
Kansas	3.1%
Kentucky	3.4%
Louisiana	4.7%
Maine	0.2%
Maryland	3.3%
Massachusetts	6.1%
Michigan	8.7%
Minnesota	6%
Mississippi	0.4%
Missouri	4.9%
Montana	4.4%
Nebraska	5.3%
Nevada	6.7%
New Hampshire	6.7%
New Jersey	2.9%
New Mexico	2%
New York	7.2%
North Carolina	5.7%
North Dakota	2.8%
Ohio	3.4%
Oklahoma	1.2%
Oregon	9.1%
Pennsylvania	3.2%
Rhode Island	4.9%
South Carolina	5.8%
South Dakota	2.5%
Tennessee	5.1%
Texas	4.8%
Utah	10.1%
Vermont	2.1%
Virginia	2.3%
Washington	12%
West Virginia	0.3%
Wisconsin	7%
Wyoming	-3.9%

The frenzied spring selling season is helping nudge prices higher, CoreLogic said. Home purchase pricing is outpacing rent growth for single-family homes.

CoreLogic forecasts national home price growth of 5.1% in the coming 12 months. But an earlier MarketWatch analysis shows that pricing forecasts have often fallen short of the reality in the high-flying housing market.

The post Home Prices Pick Up Steam as Spring Selling Season Heats Up, CoreLogic Says appeared first on Real Estate News & Insights | realtor.com®.

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