US house prices continue to rise

Recently released figures reveal that house prices in the US increased in 48 of the 50 states in the year to June 2013, while all but one of the country’s 100 largest cities also reported price gains.

American House Prices

Source: Bloomberg

According to the latest House Price Index released by CoreLogic, a property data provider, house prices across the United States rose by 11.9 per cent between June 2012 and 2013, with Nevada leading the way with an annual gain of 26.5 per cent, followed by California (21.4 per cent), Wyoming (16.7 per cent), Arizona (16.2 per cent) and Georgia (14.3 per cent).

Only Mississippi and Delaware recorded property price decreases in the 12-month period to June 2013.

This was the fastest annual national price growth recorded by CoreLogic since February 2006.

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What’s more, the data also shows that property prices rose 1.9 per cent in June from May, the sixteenth straight month-over-month increase.

However, in spite of the recent price rises, national home values were still about 19 per cent below their 2006 peak, the CoreLogic data showed.