Home prices – including distressed sales – increased in April for the second consecutive month (by 2.2%), the first time this has happened in almost two years, according to new figures compiled by CoreLogic.
Compared to April of last year, values rose 1.1%.
“Home prices are responding to a restricted supply that will likely exist for some time to come—an optimistic sign for the future of our industry,” said company president Anand Nallathambi. “We see the consistent month-over-month increases within our HPI and Pending HPI as one sign that the housing market is stabilizing.”
Of course, home buyers are enjoying mortgage rates that are just about the lowest ever recorded – with little sign that rates will increase dramatically any time soon.
Including distressed sales, the five states with the highest appreciation were: Arizona (8.8%), the District of Columbia (6.4%), Florida (5.5%), Montana (5.4%), and Utah (5.4%).
States where values fell the most include Delaware (-11.9%), Illinois (-6.8%), Alabama (-6.6%), Rhode Island (-6.2%), and Georgia (-5.6%). This figure also factors in distressed sales.