Home prices rise in all but 6 states

The latest CoreLogic statistics demonstrate the unevenness of the housing-market recovery. Prices rose 18.2% in Arizona, but fell 2.6% in Rhode Island.

By Teresa at MSN Real Estate Oct 2, 2012 2:15PM

© Exactostock/SuperStockThe latest statistics from CoreLogic found that home prices nationwide increased 4.6% from August 2011 to August 2012, the biggest year-over-year increase since July 2006.

 

From July to August 2012, prices rose 0.3%. CoreLogic analysts are predicting good results for September, too. But those numbers are far from uniform nationwide.

 

Looking at local numbers (yes, all real estate is still local), we find that the prices ranged from double-digit increases in Arizona and Idaho to declines in six states.

 

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Of the 25 largest metro areas, 23 saw price increases, ranging from 0.8% to 21.8%, but two saw price decreases. You can see how your metro area fared here.

This change represents the biggest year-over-year increase nationwide since July 2006.

"Sustained economic recovery in the U.S. requires a healthy housing market. You cannot have a healthy housing market without price stabilization and, ultimately, home price appreciation," Anand Nallathambi, president and CEO of CoreLogic, said in a news release. "Improving pricing trends over the past few months and our forecast for continued gains in September bode well for a progressive rebound in the residential housing market."

But tell that to the homeowners in Chicago, where prices fell an additional 2.5% in the last year. The other big metro area to show a decrease in prices was Edison-New Brunswick, N.J., where prices declined 2.2%.

 

In contrast, prices rose a whopping 21.8% in Phoenix-Mesa-Glendale, Ariz., 8.6% in Denver-Aurora-Broomfield, Colo., and 8.2% in Orlando-Kissimmee-Sanford, Fla.

 

These are the states that showed the greatest home-price appreciation from August 2011 to August 2012:

  • Arizona, 18.2%
  • Idaho, 10.4%
  • Nevada, 9%
  • Utah, 8.9%
  • Hawaii, 8%

They were followed by North Dakota, Montana, South Dakota, Colorado and Florida.

 

The six states where prices continued to decline were:

  • Rhode Island, 2.6%
  • Illinois, 2.3%
  • New Jersey, 1.4%
  • Alabama, 0.7%
  • Connecticut, 0.5%
  • Kentucky, 0.3%.

The states that showed the least amount of price appreciation were Wisconsin, Ohio, Tennessee, Georgia and Iowa.

 

 
61Comments
Oct 2, 2012 8:19PM
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Well, prices in my area are definitely on the uptick.  I just noted a sale in my neighborhood that adds about $100,000 to what I thought my home was valued at.  Every neighborhood and area is different.  They are talking about national trends, not local trends, and you need to talk to a realtor in your neighborhood to find out what the realistic value of your home might be. 

Certainly, as the article noted, there are areas where values remain low and other areas where the improvements are minimal.   But there are also areas where the values are definitely going up.  So check with a local realtor and find out for yourself what your market value is.

Oct 2, 2012 8:18PM
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"Nobody ever went broke underestimating the intelligence of the American people".

 

........HL Mencken

Oct 2, 2012 8:03PM
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I live in Tucson. Our home value has DEFINITELY not risen 18%. In fact it's down about 20% since 2011. That's a 38% swing from your report. I question all the facts in the article. Report the facts, not fiction and make your articles more believable.
Oct 2, 2012 7:56PM
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Maybe the most desirable properties. I don't think tract homes are appreciating like that anywhere. Real estate was overheated before the bust. Prices can't up and up forever while wages stagnate or decline. This is just common sense. We already tried having a bs economy based on frenetic real estate activity and not much else during the 00s and that was a lost decade. Look what it lead to.
Oct 2, 2012 7:33PM
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I'd sure like to see where they're getting these stats from and the hard numbers because I find it hard to believe Phoenix has a 21.8% increase and Arizona 18.2%.  I live in Arizona and I have relatives who live in Phoenix and this is NOT true around my neighborhood or my relatives/friends neighborhoods. 

Oct 2, 2012 6:31PM
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I bought my home because I liked it.  It's located in a place I want to live.  I don't give a damn what its market value is.  I do not consider it an economic asset or liability.  It's my HOME.  I'm not going to sell it, borrow money against it, flip it or anything else but LIVE in it.    If you bought your house as an investment, as something to make a profit from, ;you are a fool and a lousy investor.  If you bought a house you can't afford to pay for, you are a lousy investor.  If you can't make the payments because you lost your job, you have my sympathies but if it cost half as much, you still wouldn't be able to pay for it without a job and you should have figured that in advance.  

As for all you trolls who think every issue is a club to bash Obama, go crawl back under the rotten log you came out from under.  You're despicable. 
Oct 2, 2012 6:29PM
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The unlimited mbs bond buying is what's causing this real state bubble, not sound economics but looks good for Obama. The painful truth looms in the horizon
Oct 2, 2012 6:22PM
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Home prices are cheap, the US dollar is cheap, too bad US citizens are not the ones doing the buying. It is all foreign buyers. They are the ones with the JOBS and the MANUFACTURING and bringing money INTO their country.

Stuff the Govt. doesn't tell you. Yeah, things are picking up. Everything but the citizens of the USA.

Lord help us.

Oct 2, 2012 6:11PM
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It's pretty obvious when you follow the money trail. They crash the housing market, then come in and pick up the mortgages (owning the homes) with money they print out of thin air. It'll go down in history as one of the biggest heists perpetrated on the people in the history of this country.
Oct 2, 2012 6:06PM
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The value of the homes isn't rising, the value of the dollar has declined to its meaningless state thanks to Obamanomics.   Mmm, mmm, mmm.
Oct 2, 2012 6:05PM
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So with some up and some down they headline "house prices rise".  Can't they EVER tell the truth.  Truth is home prices are mixed but still bad.

Just trying to make things look good for Obama.  Sick of this bias.

 

Oct 2, 2012 5:40PM
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The lamestream media has gotten to the point where they have absolutely no problem just making up total and complete lies if they think it will help Obama.  It really is amazing to watch.   One can only hope that there are enough Americans who won't fall for it.

 

I mean really, who ya gonna believe, Obama and the lamestream media who shake their ra ra Obama pom-poms on a daily basis, or your lying eyes?

Oct 2, 2012 5:17PM
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Nothing has improved where I live! Just checked today and I went down another $1,200 since last month according to zillow. I will never be able to get out of my home and my husband has to drive 96 miles each way to work as a result. Awesome...

Oct 2, 2012 5:09PM
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Here we go again... I live in MA, 12 houses on my street, 5 are for sales, three are city Auctions. Neighbor bought home for 204K, now worth 160K, been for sale for 5 years. Cmon people.....

Oct 2, 2012 5:05PM
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MSNBC: You no longer have any ceredibility.
Oct 2, 2012 5:03PM
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Shows what a wonderful job President Obama is doing.  It is better to re-elect this great man instead of half-Mexican, draft dodger Romney. 

 

OBAMA 2012

Oct 2, 2012 4:42PM
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Prices are down and going futher down where I live in eastern NC. May buy another home soon but will need to rent the one I have in this market. 
Oct 2, 2012 4:27PM
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Bullsh--!!!!Electioneering for Obama again,huh???
Oct 2, 2012 4:12PM
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In my area and across to the other side of the states, prices of homes are steadily declining rapidly.  Actually just declined quite bit since yesterday.

All lies from the media

Another round of foreclosures (the biggest yet) is also on the near horizon.

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