Tuesday, May 7, 2013

CoreLogic: Colorado home price index up 10.4 percent in March

CoreLogic today released its March home price index (HPI) numbers. There were few surprises as the HPI continued to show strong growth of around 10 percent for the third month in a row. National growth and Colorado growth rates were similar. Nationally, the index grew 10.5 percent from March 2012 to March 2013, and it grew 10.4 percent in Colorado. Housing prices continue to increase at some of the largest rates seen since before the financial crisis. 

Nine states had larger growth rates in the HPI than Colorado, with the highest growth rates being in Nevada, California, and Arizona. Nevada's HPI grew 22.2 percent year over year, and California's and Arizona 'a HPIs grew 17.2 percent and 16.8 percent respectively. Only five states showed declines in their HPIs over the same period with the largest declines being in delaware and Alabama where the HPI declined 3.7 percent and 3.1 percent respectively.

Propelled by record-low mortgage rates, home sales continue to head up with home prices following suit.