Home Prices Continue to Ramp Up Nationwide

U.S. home prices have risen 1.6 percent from the previous quarter and are up 9.3 percent from last July, according to Clear Capital. Regionally, the West led the way with an annual gain of 17.8 percent, followed by an increase of 7.6 percent in the South, an advance of 7.5 percent in the Midwest, and a jump of 4.8 percent in the Northeast. Appreciation of 31.2 percent in Las Vegas, meanwhile, represents a new post-bubble high. Also of note, national home prices remained 33.4 percent below peak values — which suggests a new norm for the housing market. “While July home prices continue to ramp up throughout the country led by Las Vegas posting more than 30 percent yearly growth, let’s not forget a healthy recovery means moderation as the new normal takes hold,” said Clear Capital’s Alex Villacorta. | Read More