10 Cities Experiencing a Surge in Home PricesBy Integrity Windows
According to CoreLogic’s March Home Price Index, and as reported on by Realtor Mag, 27 states, including the District of Columbia are now at or within 10 percent of their peak home prices. Colorado, Nebraska, New York, Oklahoma, Tennessee, Texas, and Wyoming have reached new home price highs.
CoreLogic economists project that home prices, including distressed sales, will increase by 5.1 percent by March 2016, states Realtor Mag.
Pushing price levels in many states are tight inventories, job growth and the inexorable impact of demographics and household formation.
The following metros saw the largest price increases single-family homes in March in the last 12 months, as reported by CoreLogic’s March Home Price Index:
- Dallas-Plano-Irving, Texas: 9.9%
- Houston-The Woodlands-Sugar Land, Texas: 9.3%
- New York-Jersey City-White Plains, N.Y.-N.J.: 7.1%
- Los Angeles-Long Beach-Glendale, Calif.: 6.7%
- Atlanta-Sandy Springs-Roswell, Ga.: 6.5%
- Minneapolis-St. Paul-Bloomington, Minn.-Wis.: 4.7%
- Riverside-San Bernardino-Ontario, Calif.: 4.1%
- Phoenix-Mesa-Scottsdale, Ariz.: 3.7%
- Chicago-Naperville-Arlington Heights, Ill.: 3.3%
- Washington-Arlington-Alexandria, DC-Va.-Md.-W.Va.: 1.6%