Irvine, California-based CoreLogic released its Home Price Index (HPI[TM]) for March 2016 and the numbers showed home prices grew by 6.7 percent on a year-over-year basis. Prices increased by 2.1 percent from the prior month. CoreLogic's HPI includes distressed sales.
Leading all states with the highest year-over-year home-price gains in March was Washington, which posted a strong 13 percent rise in prices. Tied for second place were Oregon and Colorado, both with 10 percent annual price gains. In third place was Florida with 9.3 percent annual home-price gains in March. Coming in fourth was New York state with 8.2 percent gains in the yearlong period ending March 2016. All these gains were well over the national rate of 6.7 percent.
The weakest state for home-price gains was Maryland with just an increase of 0.7 percent in prices over the yearlong period ending in March, according to CoreLogic.
On a metro-market basis, the Denver market posted a hot pace of home-price gains with a 10.9 percent rise in single-family home prices in the year-long period ending in March 2016.
Another strong housing market...