US home prices are at pre-crisis peak in half of states.
With an increase of 6.1% in October 2014 comparing to October 2013, it marks the 32 months of consecutive gains in home prices nationally. Those numbers were extracted October CoreLogic Home Price Index report.
According to the report, Mississippi was the only state experienced 1.2% year over year decline. Michigan, South Dakota , Montana, Texas and Colorado were the 5 states with the highest appreciation.
Looking ahead, CoreLogic report projected an 5.1% increase by October 2015. “Based on our projections, home prices in over half the country will have reached or surpassed levels last seen at the height of the housing bubble sometime in mid-2015,” said Anand Nallathambi, president and CEO of CoreLogic. “The gradual recovery of the housing market continues to be propelled by improving employment, more buyer and seller confidence, continued low rates and, in certain parts of the country, investor demand. The continued actual and projected rise in home prices confirms that fact.”
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