10 States that are Seeing Increase in Home Values

Posted by Steph Kaye on Tuesday, July 8th, 2014 at 10:22am.

Recapturing Bubble Peak

After nearly two years of oversize gains, home prices are finally starting to slow toward a more sustainable pace. Many states are still experiencing home prices that are below their peaks made during the housing bubble, but 10 states have already surpassed their previous peaks.

Home prices increased 8.8% in May, marking the 27th consecutive month of year-over-year gains, according to the latest reading from CoreLogic’s Home Price Index. In fact, 94 of the top 100 metro areas showed year-over-year increases in May, lead by Riverside-San Bernardino-Ontario and Los Angeles-Long Beach-Glendale in California. In comparison, prices surged 11.8% on an annual basis in February.

 “Home prices are continuing to climb across most of the country, which has both positive and negative implications for the housing market,” said Anand Nallathambi, president and chief executive officer of CoreLogic. “While the rapid rise in prices over the past two years has lifted many homeowners out of negative equity, it has also become a negative factor in buying decisions for prospective purchasers weighing affordability concerns. As we move ahead, a moderation in home price increases over the next 12 months should help cool things down a bit and keep the housing recovery going.”

Every state in the nation has posted price gains over the past 12 months. California and Hawaii have logged the biggest gains, at 13.1% and 13.2%, respectively. However, they are still below their peaks made during the housing bubble. Below are 10 states where home prices have recaptured their bubble peaks.

  1. New York - 12 month change -11%
  2. Texas - 12 month change -8.9%
  3. Colorado - 12 month change - 8.6%
  4. North Dakota - 12 month change - 7.5%
  5. South Dakota - 12 month change - 6.4%
  6. Iowa- 12 month change - 3.7%
  7. Nebraska - 12 month change - 3.5%
  8. Oklahoma - 12 month change -3.5%
  9. Louisiana - 12 month change -3.3%
  10. Alaska - 12 month change -3.2%

If you are in the market for a new house and would like information on homes for sale, or are first time home buyer not working with a Realtor and would like to schedule a consultation with a qualified Oakland County and Macomb County Realtor, please complete the Lang Premier Properties contact form to have a real estate agent contact you. 

 Lang Premier Properties are Birmingham Realtors specializing in Oakland County Real Estate. Stephanie is an agent with Max Broock in Birmingham, Michigan. See what past clients have to say about Stephanie Lang.  Lang Premier Properties looks out for your best interests when you purchase a new custom luxury home. We always recommend working with an experienced luxury real estate agent when buying a new luxury estate.

Leave a Comment