CoreLogic Reports: Home Price Index (HPI) posted its largest annual increase in nearly seven years in February.
When including distressed sales (short sales and REOtransactions), home prices in February increased by 10.2 percent from February 2012, the data provider reported Wednesday. The annual gain marks the largest increase since March 2006. From January to February, prices still moved in a positive direction, but rose by just 0.5 percent.
“Nationally, home prices improved at the best rate since mid-2006, marking a full year of annual increases and underscoring the ongoing strengthening of market fundamentals,” said Anand Nallathambi, president andCEO of CoreLogic.“Continued home price appreciation will provide fuel needed to drive further recovery in the home purchase market.” Read more ....
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