U.S. home prices increased 1.2% in June compared to May and were up 8.4% compared to June 2012, according to Lender Processing Services' (LPS) Home Price Index report.
The average home price was $229,000, up slightly from $226,000 in May but down considerably from the peak in June 2006, when the average home price reached $270,000.
States with the biggest increases in home prices for June, compared to May, included Nevada (2.4%), Florida (1.7%), California (1.6%), Illinois (1.6%), Delaware (1.5%) and Georgia (1.5%).
Metro areas with the biggest increases included Stockton, Calif. (2.6%), Las Vegas (2.5%), Sacramento, Calif. (2.4%), Vallejo, Calif. (2.3%) and Santa Rosa, Calif. (2.1%).
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