Last week, a report from Case-Shiller revealed a 12.1 percent increase in home prices for the 20 major U.S. cities measured in their index.
This week, the research firm CoreLogic released their own real estate figures, with some slight differences. Here are the key numbers:
12.1 or 12.4
Does it even matter?
CoreLogic’s report has U.S. home prices rising 12.4 percent in July, a 1.8 percent increase from June. Case-Shiller identified a 12.1 percent increase in home prices during the month of June, and recognized a gradual easing of home price increases. CoreLogic also predicts slower home price increases in the months ahead, with a plus-0.4 percent projection from August from July. So, to answer the original question, it seems as if both reports suggest a gradual taming of those robust home price increases we’ve seen during the majority of 2013, a slight difference that could be interrupted as good news for prospective buyers.
CoreLogic has measured 17 consecutive months of home price increases year to year nationally. Locally, CoreLogic has Arizona at a 17 percent year-to-year increase. Just like the Case-Shiller report, CoreLogic identified the Western states such as Arizona, California (up 23.2 percent) and Nevada (up 27 percent) as having the most growth. This can be mainly attributed to the booming numbers posted in cities like Las Vegas, Los Angeles, Phoenix, San Diego and San Francisco. Last week’s Case-Shiller report identified these five cities has having the most price growth in the nation year to year.
Arizona also finished in the top 3 states for home price appreciation on non-distressed properties (i.e. short sales, foreclosures) with a 14.9 percent increase in July, once again behind California (up 20.2 percent) and Nevada (up 24.2 percent). For Arizona, this is up slightly from June’s 14.1 percent increase in home prices on non-distressed homes. California and Nevada also saw a slight increase in price appreciation from June’s totals in the previous CoreLogic report.
All in all, just like the Case-Shiller index from one week ago, this CoreLogic report can be taken as another sign of the Arizona real estate rebound, and why there’s never been a better time to check on the value of your home.
Listen for more Phoenix real estate news with realtors Diane Brennan and Rod Lakin on That Real Estate Show Saturdays at 3 p.m. on News/Talk 92.3 KTAR.
- 6 energy saving hacks for your home
- 5 tips for choosing a company to end your timeshare
- Water tips to save money, help save the Earth
- 5 of the most adored gentlemen in professional sports today
- The real danger of sitting at your desk
- Most surprising NBA playoff performances of the last 40 years
- 11 classic baseball movies you must see again
- Finally getting rid of fat: 3 methods that actually work
- 4 reasons cancer survivors should focus on food
- 5 spring cleaning spots everyone forgets
- 5 reasons to look forward to watching the D-backs this season
- Common virus attributed to spike in head and neck cancers
- 5 signs it’s time to end your timeshare ownership
- 3 most overlooked ways to keep your home healthy
- 6 ways the air in your home could be making you sick
- CrossFit dangers: 5 common injuries and how to deal with them
- Today's radiation treatments offer better success, fewer side effects
- Tips to make watching TV on the patio even better
- What really happens when you donate to a community college?
- Sun and skin cancer: Separating fact from fiction
- 5 critical lifestyle changes for a healthy colon
- What you need to know about Alzheimer's disease in Arizona
- Spring clean your windows like a pro with these 8 tips
- 7 films that should have won best-picture Oscars
- New plumbing technology saves money and improves your home
- Survey shows Arizona CFOs optimistic about 2016
- How chronic pain can affect your love life
- 5 potential warning signs about your child's development