August 22, 2013
Market: National
U.S. single-family home values appreciated 6% in July from a year earlier to $161,000. That’s the highest annual home price jump since 2006 and the 14th consecutive month of year-over-year increases—further indication that the national real estate market is looking rosier. “After three straight months of annual home value appreciation above 5%, the U.S. housing market recovery has proven it is on very sound footing,” said Zillow Chief Economist Stan Humphries.
Zillow reported that 289 of the 393 metros (or 73.5%) posted price increases in July over the previous month and 303 (77.1%) registered an increase over the prior year. Over the next 12 months, home prices are expected to appreciate another 4.8% to $170,000, with the highest increases in Sacramento, Riverside, and San Francisco.
Read more at Yahoo! Homes.
HZ Connection 