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Report: Springs home prices on the rise

Wed, Aug 8, 2012

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Colorado Springs home prices increased by 4.4 percent year-over-year in June.

That growth surpasses home sales price increases in the rest of the country, where prices went up 1.3 percent, including the distressed sales of foreclosed homes and short sales.

The figures come from real estate analytics firm CoreLogic.

Excluding distressed homes, sales prices increased 3.2 percent nationally and 4 percent in Colorado Springs.

CoreLogic estimates that home prices will continue to rise and will climb 4.3 percent year-over-year in July, excluding distressed sales.

“At the halfway point, 2012 is increasingly looking like the year that the residential housing market may have turned the corner,” CoreLogic CEO Anand Nallathamb said in a statement. “While first-half gains have given way to second-half declines over the past three years, we see encouraging signs that modest price gains are supportable across the country in the second-half of 2012.”

The states with the greatest appreciation included Arizona (13.8 percent), Idaho (10.4 percent), South Dakota (+10.1 percent), Utah (+8.3 percent) and Wyoming (+7.7 percent).

Excluding distressed sales, the states with the greatest depreciation were: Excluding distressed sales, the five states with the greatest depreciation were: Delaware (-3.6 percent), Alabama (-3.1 percent), Connecticut (-2.1 percent), New Jersey (-0.9 percent) and Kentucky (-0.4 percent).

The five states with the largest peak-to-current declines including distressed transactions are Nevada (-57.1 percent), Florida (-45.3 percent), Arizona (-44.1 percent), California (-39.2 percent) and Michigan (-39.0 percent).

 

 

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