National monthly home prices increased by a modest 0.8 percent for the second consecutive month in July according to CoreLogic’s July Home Price Index (HPI), but prices were still 5.2 percent lower than a year ago.
July marks the fourth consecutive month in which monthly home prices have seen an increase. Although year-over-year price comparisons continue to see a decline, when excluding distressed sales, the home prices in July were only 0.6 percent lower than those in July of 2010.
The five states with the highest year-over-year (YOY) appreciation including distressed sales were: West Virginia (+14.0 percent), New York (+3.3 percent), Wyoming (+3.2 percent), Mississippi (+2.4 percent), and the District of Columbia (+2.3 percent). In June 2011, those states were: New York (+3.3 percent), the District of Columbia (+2.4 percent), North Dakota (+1.2 percent), Alaska (+0.1 percent) and Nebraska (+0.1 percent).
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