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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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