The rebound in home prices from post-bubble lows is still intact. With the help of low interest rates and inventory levels, many areas of the country continue to post impressive price gains.
In September, home prices across the nation increased on a year-over-year basis for the 19th consecutive month. According to CoreLogic, a property information and analytics provider, home prices jumped 12 percent in September from a year earlier. In fact, home prices have posted double-digit gains for eight straight months. “U.S. home prices continued their ascent in September. Average home prices in nearly half the states are now within striking distance of their pre-downturn pricing peaks,” explained Anand Nallathambi, president and chief executive officer of CoreLogic.
Home prices are still 17.4 percent below their bubble peak in April 2006, but every state logged an annual increase in September. West Virginia and Arkansas posted the smallest gains at 0.9 percent and 1.3 percent, respectively.
As they say in Real Estate 101, it’s all about location. Here are the top 10 real estate markets by state, according to year-over-year price gains from CoreLogic.