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Home Price Gains Slowed in May
Tuesday, July 7, 2015
Home prices increases
decelerated slightly on an annual basis in May compared to April according to a
report from CoreLogic on Tuesday. The
company's Home Price Index (HPI) showed that home prices nationwide increased
by 6.3 percent in May. The index, which
includes sales of distressed properties, was rose 6.9 percent on an annual
basis in April. It was the first month
that annual appreciation has slowed since February but May still represented the
39th consecutive month for year-over-year gains.
The HPI including distressed sales rose 1.7
percent from April 2015 to May 2015 enabling ten states. (Alaska, Colorado, Iowa, Nebraska, New York,
North Carolina, Oklahoma, Tennessee, Texas, and Vermont) and the District of
Columbia to establish new price peaks in CoreLogic's records going back to
January 1976. Another 23 states are at
or within 10 percent of their old peak prices.
On a national basis the
peak-to-current change (from April 2006 to May 2015) was -8.4 percent.
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