All the Real Estate News That’s Fit to RE-Print™
Welcome to our weekly edition of Hot Real Estate Investment News. It’s been a slow week for real estate investing news, but we have two positive items….
Home prices nationwide increased by 8.3 percent in December 2012 compared to December 2011. That’s the biggest increase since May 2006.
The Improving Markets List grew to 259 with all 50 states represented, compared to 36 states a year ago.
Here are the real estate investing related news items that caught our attention this past week. We hope they help you stay up-to-date with your real estate investment strategies and inspire some profitable real estate deals for you.
Biggest Year-Over-Year Increase Since May 2006
On Tuesday, CoreLogic® released its December CoreLogic HPI® report.
Home prices nationwide, including distressed sales, increased on a year-over-year basis by 8.3 percent in December 2012 compared to December 2011. This change represents the biggest increase since May 2006 and the 10th consecutive monthly increase in home prices nationally.
Highlights as of December 2012:
- Including distressed sales, the five states with the highest home price appreciation were: Arizona (+20.2 percent), Nevada (+15.3 percent), Idaho (+14.6 percent), California (+12.6 percent) and Hawaii (+12.5 percent).
- Including distressed sales, this month only four states posted home price depreciation: Delaware (-3.4 percent), Illinois (-2.7 percent), New Jersey (-0.9 percent) and Pennsylvania (-0.5 percent).
- Excluding distressed sales, the five states with the highest home price appreciation were: Arizona (+16.4 percent), Nevada (+14.7 percent), California (+12.8 percent), Hawaii (+11.7 percent) and North Dakota (+10.8 percent).
- Excluding distressed sales, this month only three states posted home price depreciation: Delaware (-1.9 percent), Alabama (-1.0 percent) and New Jersey (-0.5 percent).
Full-month December 2012 national data can be found at http://www.corelogic.com/HPIDecember2012.
As reported by Eshter Cho:
“As more markets across the country improved, all 50 states—plus the District of Columbia—were able to receive representation in February’s Improving Markets Index (IMI) released by the National Association of Home Builders (NAHB) and First American.
Last year during this time, just 36 states were represented.
For this month, the IMI grew to include 259 markets, up from 242 in January….
In order to be recognized as “improving,” metro areas need to show improvement from their respective troughs in housing permits, employment, and house prices for at least 6 consecutive months. “