Nation's home prices rise by 5.9 percent in March.

Position:NEWS ROOM - Brief article
 
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* The nation's home prices rose by close to 6 percent in the one-year period ending in March. That was the latest report from CoreLogic, Irvine, California, which also forecast prices to rise by 5.1 percent over the next one-year period ending in March 2016. [paragraph] Those numbers include distressed sales, the company noted. On a month-over-month basis, the nation's home prices rose by 2 percent in March. If you exclude distressed sales, prices rose by 6.1 percent over the year-long period ending in March.

The data company also reported that seven states reached new home-price highs in March, according to records kept since January 1976. Those states are Colorado, Nebraska, New York, Oklahoma, Tennessee, Texas and Wyoming.

A full 27 states plus the District of Columbia were at or within 10 percent of their price peak in the March data.

Notably, only one state, New Mexico, showed year-over-year depreciation in March.

CoreLogic Chief Economist Frank Nothaft noted that demand was not the only factor driving up prices. Limited inventory is playing a role as well.

Nothaft said, "The...

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