Jackson home prices up

CoreLogic, a leading provider of information, analytics and business services, has released its July Home Price Index report. In Jackson, home prices, including distressed sales, increased by 4.8 percent in July 2012 compared to July 2011 and increased by 6.4 percent in June 2012 compared to June 2011. Excluding distressed sales, year-over-year prices increased by 6.3 percent in July 2012 compared to July 2011 and increased by 4.8 percent in June 2012 compared to June 2011. Nationwide, home prices, including distressed sales, increased on a year-over-year basis by 3.8 percent in July 2012 compared to July 2011. This was the biggest year-over-year increase since August 2006. On a month-over-month basis, including distressed sales, home prices increased by 1.3 percent in July 2012 compared to June 2012. The July 2012 figures mark the fifth consecutive increase in home prices nationally on both a year-over-year and month-over-month basis. Excluding distressed sales, home prices nationwide increased on a year-over-year basis by 4.3 percent in July 2012 compared to July 2011. On a month-over-month basis excluding distressed sales, home prices increased 1.7 percent in July 2012 compared to June 2012, also the fifth consecutive month-over-month increase. Distressed sales include short sales and real estate owned (REO) transactions. ''The housing market continues its positive trajectory with significant price gains in July and our expectation of a further increase in August,'' said Mark Fleming, chief economist for CoreLogic. ''While the pace of growth is moderating as we transition to the off-season for home buying, we expect a positive gain in price levels for the full year.'' Published: Thu, Sep 6, 2012

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