Economists Cautiously Optimistic as Home Prices Rise | South Salem NY Real Estate

Good news for home buyers: According to the latest report from real estate data provider CoreLogic, home prices rose 10.2 percent in February on a year-on-year basis, the biggest annual increase since March 2006.

Nationwide, home prices have been rising rapidly, especially in Nevada (19.3 percent), Arizona (18.6 percent), California (15.3 percent), Hawaii (14.6 percent) and Idaho (13.5 percent). But they are still down more than 26 percent from April 2006, when they were at their peak, CoreLogic reported.

Phoenix; Los Angeles; Riverside, Calif.; Atlanta and New York are among cities with the biggest gains.

CoreLogic’s measure of national prices also rose 0.5 percent in February from January– a solid increase during the winter months, when sales typically slow.

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