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US house prices see biggest rise in 6 years

Date : (News Section: United States)

US house prices see biggest rise in 6 years
The value of USA real estate increased by 3.8 per cent from July 2011 to July 2012.

These findings, revealed by CoreLogic in its July Home Price Index, represent the biggest price increase in six years.

Mark Fleming, chief economist for CoreLogic, said: "The housing market continues its positive trajectory with significant price gains in July and our expectation of a further increase in August."

Properties in Arizona - including distressed sales - saw the largest rise in value, increasing by 16.6 per cent year-on-year, followed by Idaho at ten per cent and Utah at 9.3 per cent.

The findings also showed that month-to-month, home prices across the country, including distressed sales, rose by 1.3 per cent from June 2012.

Last week, S&P Dow Jones Indices revealed that real estate values in the US rose by 1.2 per cent in the second quarter of 2012 compared with the same period in 2011. This also represents a 6.9 per cent hike from the first three months of 2012.

Article by +Steve Binge on behalf of

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