ML-Implode News - CoreLogic: Home Prices Show Largest Annual Increase in Nearly Seven Years

The index that included distressed sales (sales of owned real estate and short sales) increased by 8.3 percent compared to December 2011, the largest increase since May 2006.Â With distressed sales excluded the HPI increased 7.5 percent year over year.Â Prices were up 0.4 percent including distressed sales and 0.9 percent excluding distressed sales compared to November.Â
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The five states with the greatest home price appreciation including distressed sales were Arizona (+20.2 percent), Nevada (+15.3 percent), Idaho (+14.6 percent), California (+12.6 percent) and Hawaii (+12.5 percent). Excluding distressed sales the five highest were Arizona (+16.4 percent), Nevada (+14.7 percent), California (+12.8 percent), Hawaii (+11.7 percent) and North Dakota (+10.8 percent).

This looks like mostly a story of rebound in the most-depressed states.

Relevant:

CoreLogic: Home Prices Show Largest Annual Increase in Nearly Seven Years