According to the May findings from SX Irvine, California-based CoreLogic's Home Price Index (HPI), 10 states and the District of Columbia saw their home prices reach new peaks when including distressed sales. The post-crisis recovery in home prices is becoming increasingly widespread, with more than half of the states nearing pre-peak levels.
A full 33 states and D.C. were at or within 10 percent of their peak prices in May, when including distressed sales. CoreLogic has tracked prices through its HPI going back to January 1976 when the index started.
The 10 states that reached new homeprice highs were: Alaska, Colorado, Iowa, Nebraska, New York, North Carolina, Oklahoma, Tennessee, Texas and Vermont, according to CoreLogic.
Including distressed sales, the May HPI showed home prices nationwide were up 6.3 percent compared with May 2014. That showing represented 39 months of consecutive year-over-year price increases.
Looking forward, CoreLogic said that home prices are expected to rise by 5.1 percent from May 2015 to May 2016, including distressed sales. Excluding distressed sales, prices are expected to rise by 4.7 percent from May 2015 to May 2016.
Commenting on the May price report, Anand Nallathambi, president and chief executive officer of CoreLogic, said, "The rate of home-price appreciation ticked up in May, with gains being fairly widely distributed across the country."
He added, "Importantly, higher home prices over the past couple of years have spurred increases in new single-family...