Home prices in June, including distressed property, increased on a year-over-year basis nationwide by 2.5 percent in June, according to a report Tuesday, Aug. 7, by Santa Ana-based CoreLogic.
The June figures represent the fourth month of price appreciation for the real estate industry, an upswing prompting CoreLogic to predict a 4.3 percent increase in home prices nationwide for July.
Across the Inland area of Riverside, San Bernardino and Ontario the provider of information on home sales, price trends and foreclosure activity reported that home prices – including distressed property – rose nine-tenths of 1 percent in June year-over year.
With distressed property taken out of the mix, home prices were up 2.9 percent in June compared to June 2011.
The pricing levels were relatively flat from the month before in both categories.
Mark Fleming, chief economist with CoreLogic, which measured Multiple Listing Service data for its Home Price Index report, cited reductions in visible and shadow inventory to the pricing increases. “This trend is a bright spot because the decline in shadow inventory translates to fewer distressed sales, which helps sustain price appreciation,”’ Fleming said in a statement.
Source: http://www.pe.com/business/business-insider-headlines/20120807-real-estate-home-prices-yoy-rise-2.5-in-june.ece
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