California’s home prices increased 11.1 percent in 2012, making it the fifth highest state in terms of home price gains, according to a recent study by CoreLogic. http://www,dsnews.com/articles/corelogic-home-prices-in-november
The nationwide increase for November was 7.4 percent, the highest gain since May 2006, and when the December data are in, it is expected reflect a 7.9 percent increase, the study group predicted.
Five largest gainers
The survey showed that the only states surpassing California in home price gains were Arizona (+20.9 percent), Nevada (+14.e percent), Idaho (+13.8 percent), North Dakota (+11.1 Percent).
The six states that did not register an increase in residential property prices last year were Delaware (-4.9 percent), Illinois(-2.2 percent), Connecticut (-0.5 percent), New Jersey (-0.5 percent), Rhode Island (0.3 percent), and Pennsylvania (-0.1 percent).
Prices to remain strong
“As we close out 2012 the pending index suggests prices will remain strong,” according to Mark Fleming, chief economist for CoreLogic. However, he said that the although the present home price increases are not expected to significantly affect the availability of credit, they are expected to continue through 2013.
Anand Nallathambi, CoreLogic’s president and CEO, said “We still have a long way to go to return to 2005-2006 levels, but all signals currently point to a progressive stabilization of the housing market and the positive trend in home price appreciation to continue into 2013.”