Home Prices Rise 5%, Hit 6-year high

The Uptown District is bounded by Woodway Drive to the north, the I-610 (West Loop) to the east, U.S. Highway 59 to the south, and Yorktown Street to the west.[4]
Several subdivisions, including Afton Oaks, Briarcroft, Briargrove, Broad Oaks, Briarmeadow, Del Monte, Larchmont, St. George Place, Tanglewood, and Westhaven Estates border Uptown Houston.

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WASHINGTON — A measure of U.S. home prices jumped 5 percent in September compared with a year ago, the largest year-over-year increase since July 2006

CoreLogic, the real estate data provider, also said Tuesday that prices declined 0.3 percent in September from August, the first drop after six straight increases. The monthly figures are not seasonally adjusted. CoreLogic says the monthly decline reflects the end of the summer home-buying season.

Other measures have also shown healthy gains in home prices over the past year. The Standard & Poor’s/Case Shiller 20-city index rose 2 percent in August compared with a year ago, a faster pace than the previous month.

The price gains in the past year reported by CoreLogic were widespread. Prices have risen in all but seven states. And they declined in only 18 out of 100 large cities that are tracked by the index.

Some of the biggest increases were in states that suffered from the housing bust. Home prices in Arizona jumped 18.7 percent in the past year, the most of any state. Home prices in Idaho rose 13.1 percent, the second largest. Nevada’s home values rose 11 percent.

Home prices jumped 22.1 percent in Phoenix, the metro area with the biggest gain. Prices in Houston rose 6.6 percent, the second-highest increase.

http://www.statesmanjournal.com/viewart/20121107/BUSINESS/311070119/Home-prices-rise-5-hit-6-year-high
Written by

Christopher S. Rugaber

Associated Press

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