Today," /> Strongest Year Over Year Price Growth In Colorado

Strongest Year Over Year Price Growth In Colorado

Dated: September 8 2014

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Figure 1 YoY HPI Growth For 25 Highest Appreciating States
Today, CoreLogic reported that July 2014 national home prices increased by 7.4 percent year over year, and by 1.2 percent month over month. This marks the 29th consecutive month of year-over-year increases in the CoreLogic Home Price Index (HPI). Excluding distressed sales, home prices increased 6.8 percent from July 2013 and were up1.1 percent from the prior month. Including distressed sales, prices were still 11.9 percent below the peak in April 2006, and excluding distressed sales, prices were down 8.3 percent from peak levels.

Including distressed sales, year-over-year home prices were up in every state but Arkansas. Michigan led the country with an 11.4-percent price increase from July 2013, followed by Maine with a 10.6-percent increase. Excluding distressed sales, all states experienced a year-over-year rise in prices, with Massachusetts (+11.2 percent) and New York (+9.7 percent) showing the largest increases.

Twelve states reached new highs in home prices in June 2014[1] . Despite having the third-fastest state appreciation at 10.6 percent year over year, Nevada remained at 36.4 percent below its 2006 peak level. Florida had the second-largest peak-to-current drop at 33 percent. Figure 1 shows the current, maximum and minimum year-over-year growth rates for the 25 states with the highest year-over-year appreciation. The figure illustrates that some of the states now growing the fastest also fell the farthest in the housing crisis.

In addition to the overall price indices, CoreLogic analyzes four individual home-price tiers. The price tiers tracked by the CoreLogic HPI are calculated relative to the mean national home price and include homes that are priced 75 percent or less below the mean (low price), between 75 and 100 percent of the mean (low-to-middle price), between 100 and 125 percent of the mean (middle-to-moderate price) and greater than 125 percent of the mean (high price).

Figure 2 shows the levels of the four price tiers indexed to January 2011. The two lower-priced tiers have recovered the most from their trough levels (both hit bottom in March 2011), with the low-price tier recovering 41 percent from the trough and the low-to-middle tier recovering 35.3 percent from the trough. As of July 2014, the low-price tier increased 11.1 percent year over year. The two higher-price tiers both bottomed out in February 2012, with the middle-to-moderate price tier recovering 32.5 percent from the trough and the high-price tier recovering 27.1 percent from the trough. The high-price tier fell the least, at 27.9 percent peak-to-trough, and is currently 8.4 percent below its peak. The low-to-middle price tier fared the worst in the housing crisis, falling 37.2 percent peak-to-trough, and is now 15 percent below peak levels.
Denver Colorado Realtor -Michael Steffen 
Michael is a motivated realtor specializing with investors and new home buyers located in the following areas; DenverArvada Aurora Bennett Byers Castle Pines Castle Rock Centennial Cherry Hills Village Columbine Valley Deer Trail Denver Elbert Englewood Franktown Greenwood Village Highlands Ranch Larkspur Littleton Lone Tree Parker Sedalia Sheridan Strasburg WatkinsWheat Ridge, Lakewood, Castle Rock, Thornton, Westminster, Evergreen, Golden. Michael Steffen 
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Generation Property Group

My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area and Team Leader For Generation Property Group! We specialize in advanced Internet marketing, buying, s....

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