The pace of home price increases stayed strong in April with prices up 12.1% year-over-year, CoreLogic says.
The annual increase is the biggest in more than seven years. Prices were up 3.2% in April from March.
“Increasing demand … coupled with low inventory, has created a virtuous cycle for price gains, says Mark Fleming, CoreLogic chief economist, noting that home price growth continues to “surprise to the upside.”
The states with the highest year over year home price appreciation were Nevada, up almost 25%; California, 19%; Arizona and Hawaii, 17%; and Oregon, almost 16%.
Read more about home prices at USA Today.