Home prices up more than 6 percent yearly

February home prices show improvement

Home prices showed both year-over-year and quarter-over-quarter increases on both regional and national levels in February, Clear Capital said in a recent report.

According to Clear Capital’s most recent monthly housing market report, the price increases seen across the board point to a strong beginning to the typically robust spring housing season.

In February, national home prices rose 6.1 percent on a yearly basis, with all four major U.S. regions seeing yearly increases.

The West region led the way with 13.6 percent improvement year-over-year, followed by the South (5.1 percent yearly improvement), the Midwest (4.0 percent) and the Northeast (2.6 percent).

Of the top 15 metropolitan markets (measured by yearly gains), 12 saw year-over-year gains of 10.0 percent or more. In fact, 9 of the 15 top markets experienced gains of 14.3 percent or more on a yearly basis.

Increases seen quarterly, too

Home prices also saw improvement on a quarterly basis across regions throughout the country, Clear Capital said.

National home prices rose 1.0 percent quarter-over-quarter, as 12 of the 15 top metropolitan markets saw quarterly increases of 2.0 percent or more.

All four major U.S. regions experienced increases quarter-over-quarter, led by the West at 2.1 percent. The South had 0.8 percent quarterly home price growth, followed by the Northeast (0.7 percent) and the Midwest (0.4 percent).

On a quarterly basis, 12 of the 15 top metro area experienced price gains of 2.0 percent or more.

Posted in: Home Equity, Mortgage, Refinance

Home Equity News: This article was published on 3-13-2013 at 8:24 am.

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