CoreLogic: U.S. home prices jump in May

U.S. home prices rose 12.2 percent in May compared to last year and similar growth is expected when June numbers are final, CoreLogic said in today’s Home Price Index report. The May price jump marks the biggest year-over-year increase since February 2006.

“It’s been more than seven years since the housing market last experienced the increases that we saw in May, with indications that the summer months will continue to see significant gains,” said Dr. Mark Fleming, chief economist for CoreLogic, in a news release.

“As we approach the half-way point of 2013, home prices continue to respond positively to the reductions in home inventory thus far.”

 

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.