Home prices nationwide, including distressed sales, increased on a year-over-year basis by 4.6% in August, according to new data from Irvine, Calif.-based CoreLogic. August's data represents the biggest year-over-year increase since July 2006.
On a month-over-month basis, including distressed sales, home prices increased by 0.3% in August compared to July. The August figures mark the sixth consecutive increase in home prices nationally on both a year-over-year and month-over-month basis.Â
Excluding distressed sales, home prices nationwide increased on a year-over-year basis by 4.9% and increased 1% on a month-over-month basis.
‘Again this month, prices rose on a year-over-year basis, and our expectation is for that to continue in September, based on our pending HPI forecast,’ says Mark Fleming, chief economist for CoreLogic. ‘The housing markets gains are increasingly geographically diverse, with only six states continuing to show declining prices.’