US Home Prices Rise in July by Most in 6 Years

home pricesBy CHRISTOPHER S. RUGABER, AP Economics Writer

WASHINGTON (AP) - U.S. home prices jumped 3.8 percent in the 12 months ending in July, according to a private real estate data provider. The year-over-year increase was the biggest in six years, further evidence that the housing market is steadily recovering.

CoreLogic said Tuesday that home prices also rose 1.3 percent in July from June. That's the fifth straight increase in both the monthly and year-over-year price indexes.

The index is the third national measure to show steady increases. The Standard & Poor's/Case-Shiller index posted its first annual increase in nearly two years last week. And a federal government housing agency has also reported annual increases.

The states with the biggest gains according to CoreLogic over the past 12 months were Arizona, Idaho, Utah, South Dakota and Colorado. In Arizona, prices have risen 16.6 percent since July 2011. Idaho has posted a 10-percent gain in that time.

But not all states are seeing increases. In Delaware, prices dropped 4.8 percent in the 12-month period. Prices fell 4.6 percent in Alabama in that stretch.

The housing market has been slowly recovering this year. Sales of new and previously occupied homes are up. Builders are more confident and starting work on more homes. And mortgage rates are near their lowest levels of the past six decades.

Prices are also rising because the supply of available homes remains tight.

Still, the housing market's recovery is just beginning. Prices remain 27 percent below their peak in April 2006, CoreLogic said.

The recent improvements have been widespread. Out of 100 large cities tracked by CoreLogic, only 23 posted year-over-year declines in July. That's four fewer than in June.


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democracks0

When Michelle Obama said that being President doesn't change who you are, it reveals who you are.

Ok lets start with this.

Obama the great divider & chief!

September 05 2012 at 7:34 PM Report abuse +1 rate up rate down Reply
democracks0

Obamas athiests at the DNC are in an uproar because the word God was mentioned.

I wonder how the REVEREND Jesse Jackson feels about his own party who don't want the word God mentioned.

I wonder how the REVEREND Al Sharpton feels about his own party who don't want the word God mentioned.

iI wonder how FATHER Pfleger feels about his own party who don't want the word God mentioned.

Obamas nation of non-believers. Dick Durbins Godless democrats.

I think I'll send them all a bag of marshmallows. So they can toast them with the devil one day.

I

September 05 2012 at 7:31 PM Report abuse -2 rate up rate down Reply
democracks0

Union President Karen Lewis (Chicago Teachers) called Rahm Emanuel a liar and a bully. WOW!!!

Rahm had to run back home from the DNC so he could bully teacher union members some more.

September 05 2012 at 3:10 PM Report abuse -1 rate up rate down Reply
1 reply to democracks0's comment
democracks0

I guess you could call Rahms bullying Karen Lewis a war on women.

September 05 2012 at 3:14 PM Report abuse rate up rate down Reply
3 replies to democracks0's comment
democracks0

When Michelle Obama said that being President doesn't change who you are, it reveals who you are.

Obama the whiner and cry baby. Waahh Waahh it's not my fault. Waahh wahhh it's everyone elses fault.
Wahhh Waaaaaaaaaaaaaaaaaaaaaaaaaaaahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh.

September 05 2012 at 8:06 AM Report abuse rate up rate down Reply
1 reply to democracks0's comment
ohmyboehnertwo

Cry baby? Me the weeper of the house is a cry baby. Just look at my photo. Here crackpot, let the weeper of the house give you some tissue.......LOL!!!!!!!!

September 05 2012 at 1:41 PM Report abuse +1 rate up rate down Reply
4 replies to ohmyboehnertwo's comment
democracks0

When Michelle Obama said that being President doesn't change who you are, it reveals who you are.

Ok lets start with this.

Obama the great divider & chief!

September 05 2012 at 8:04 AM Report abuse -1 rate up rate down Reply
1 reply to democracks0's comment
ohmyboehnertwo

Former Florida Gov. Jeb Bush (R) warned on Sunday that Republicans aren't doing enough to boost their appeal to a wider swath voters, a lack of action that could damage the party in the future as demographics shift.

"This is going to be a close election, but long-term, conservative principles, if they're to be successful and implemented, there has to be a concerted effort to reach out to a much broader audience than we do today," Bush said on NBC's "Meet the Press."

Bush often sounds the alarm about GOP rhetoric and Latino voters in particular, whom he said could be turned off by the way Republicans discuss immigration and other issues. Republican presidential hopeful Mitt Romney trails President Barack Obama by significant margins among Latino voters, the second-fastest growing population in the United States. Bush's brother, former President George W. Bush, held far better numbers with Latino voters than Romney currently does.

On Sunday, the former Florida governor did not refer to the GOP's need to appeal to any specific group, but said the party could find it seriously damaging if Republicans do not expand their base.

September 05 2012 at 4:39 PM Report abuse +2 rate up rate down Reply
2 replies to ohmyboehnertwo's comment
ohmyboehnertwo

Republicans don't expand your base. Keep your party at 87% white, the Democrats will thank you for it!

September 05 2012 at 4:44 PM Report abuse +1 rate up rate down
democracks0

Wow what a racist. Obamas mother was white.

September 05 2012 at 7:36 PM Report abuse -1 rate up rate down
democracks0

I felt sorry for the Obamas last night when Michelle was going on and on about how they struggled. Yeah it must be rough living in the White House, going on 10 million dollar vacations on the taxpayers dime, buying a jacket that cost $6800.00, getting a $25,000.00 tax refund check. Gosh how the Obamas struggle so. Maybe we should take up a collection for them. LOL

September 05 2012 at 7:52 AM Report abuse -1 rate up rate down Reply
democracks0

I was waiting for Michelle last night, to tell the American people why Barack hasn't met with his jobs council in over 7 months. Barack has had time to party with the 1%ers in Hollyowood at his $40,000.00 a plate fund raisers.
He's had time to get 18 holes of golf in. Barack also had time to squeeze in issuing work permits to Illegals. But no meeting with his jobs council, with so many people out of work, why didn't Michelle talk about that.

September 05 2012 at 7:48 AM Report abuse rate up rate down Reply
democracks0

Ariannas working overtime tonight rating comments. LMAOOO

September 05 2012 at 3:55 AM Report abuse rate up rate down Reply
democracks0

I was surprised that Michelle wasn't wearing her $6800.00 jacket tonight when she was trying to relate to the common folk, and how she and Barack have struggled so. It was such a sacrifice that she only was able to spend 10 million dollars on her lavish summer vacation. Oh I forgot that vacation tab was compliments of the taxpayers.

September 05 2012 at 3:53 AM Report abuse +1 rate up rate down Reply
democracks0

I see there's a picture up of the unproud of her country, Michelle Obama.

September 05 2012 at 3:48 AM Report abuse -1 rate up rate down Reply