Real Estate News

Home prices up 7.1 percent in June 2014 over 2013

In its regular monthly report, CoreLogic, the California-based real estate analytics firm, said home prices in Tacoma and Lakewood increased by 7.1 percent in 2014 compared to June 2013. On a month-over-month basis, home prices, including distressed sales, increased by 1.0 percent in June 2014 compared with May 2014.

Excluding distressed sales, year-over-year prices increased by 7.2 percent in June compared with June 2013. On a month-over-month basis, excluding distressed sales, the CoreLogic report said home prices increased by 1.3 percent in June compared to May.

Among other data in Tuesday’s report:

•  In Washington, home prices were up 8.6 percent for the year when distressed properties are included. Prices were up 8.1 percent when distressed properties are excluded.



•  Including distressed sales, the five states with the highest home price appreciation were: Michigan (+11.5 percent), California (+11.3 percent), Nevada (+11.1 percent), Hawaii (+10.8 percent) and Oregon (+9.5 percent).



•  Excluding distressed sales, the five states with the highest home price appreciation were: Massachusetts (+11.2 percent), New York (+9.8 percent), Hawaii (+9.2 percent), California (+9.1 percent) and Oregon (+8.8 percent).



•  Including distressed transactions, the peak-to-current change in the national Home Price Index (from April 2006 to June 2014) was -12.9 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -9 percent.



•  Including distressed sales, the U.S. has experienced 28 consecutive months of year-over-year increases; however, the national average is no longer posting double-digit increases.



•  Ninety-eight of the top 100 Core Based Statistical Areas (CBSAs) measured by population showed year-over-year increases in June 2014. The two CBSAs that did not show an increase were Worcester, Mass.-Conn. and Little Rock-North Little Rock-Conway, Ark.



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