US home prices climb 12.4 percent in July

LOS ANGELES (AP) — U.S. home prices jumped 12.4 percent in July from a year earlier, reflecting a housing market that’s increasingly favoring sellers amid a tight supply of available homes for sale.

Real estate data provider CoreLogic said Tuesday that home prices in every state but Delaware climbed on annual basis in July.

Ninety-nine of the 100 largest cities reported annual price gains.

Home prices grew 27 percent in Nevada, to lead all states.

CoreLogic also says prices rose 1.8 percent from June, the 17th straight month-over-month increase.

Consistent job gains and mortgage rates that are still historically low despite recent upticks are spurring more people to buy homes.

That’s helped drive prices higher.

CoreLogic says U.S. home prices are now within 18 percent of their peak levels reached in April of 2006.

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus