Corelogic's home price index for Colorado increased year over year for the eighth month in a row during August 2012, increasing to the highest growth rate seen since the beginning of the recession in 2008.
showed a 6.9 increase from August 2011 to August 2012.
The August HPI report, released today by Corelogic, shows the national HPI rising by 4.6 percent, year over year.August's year-over-year change was down a little form July's change, and was the first time in seven months that the year-over-year HPI change did not increase from month to month. In the short term, low interest rates and loose monetary policy are likely to continue pushing up home prices.
annual increase in the Colorado HPI of 6.9 percent during July mirrors
to a certain extent other home price indices, such as the
Case-Shiller index and
the FHFA's expanded house price index which have also showed continued positive home price gains in the region.
CoreLogic HPI shows
that, nationally, home prices have not increased as much as in Colorado,
which was expected. Several home price indices continue to show
Colorado home prices increasing more than the nation, and falling by
smaller amounts when decreases occur.
the August report, only 8 states reported larger year-over-year
increases than Colorado. The states with the largest increases were
Arizona and Idaho with increases of 18.2 percent and 10.4 percent,
respectively. Nevada, Utah, Hawaii, North Dakota, Montana and South Dakota also reported larger increases than
Colorado. Six states showed declines in prices. The states with the
largest declines in the home price
index were Illinois and Rhode Island with drops of 2.3 percent and 2.6