Home Prices Surge 11% in Oregon, 10% in Denver

More and more data pile up that the real estate market has recovered from the recession. In some markets, prices are above their 2005 and 2006 peaks. New data from CoreLogic show that over the one-year period that ended in July, Oregon topped all states with an 11.2% increase. Among large cities, Denver was first at 10.0%.

Nationally, home prices rose 6% year over year.

There is some connection between Denver and the state of Colorado. Colorado home prices rose 9.3% over the period. Oregon has no large cities on which to base a comparison.

Experts at the firm pointed out:

CoreLogic, a leading global property information, analytics and data-enabled solutions provider, .. released its CoreLogic Home Price Index (HPI) and HPI Forecast for July 2016 which shows home prices are up both year over year and month over month.

As for the future:

The CoreLogic HPI Forecast indicates that home prices will increase by 5.4 percent on a year-over-year basis from July 2016 to July 2017, and on a month-over-month basis home prices are expected to increase by 0.4 percent from July 2016 to August 2016. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

Full data from the states and cities:

Home Price Change by State

State July 2016 12-Month HPI
Year Over Year
National 6.0%
Alabama 2.7%
Alaska 1.1%
Arizona 5.4%
Arkansas 2.3%
California 5.9%
Colorado 9.3%
Connecticut -1.2%
Delaware 0.3%
District of Columbia 1.9%
Florida 7.5%
Georgia 5.8%
Hawaii 5.1%
Idaho 7.0%
Illinois 3.0%
Indiana 4.2%
Iowa 3.7%
Kansas 4.0%
Kentucky 4.5%
Louisiana 2.9%
Maine 2.5%
Maryland 1.2%
Massachusetts 4.3%
Michigan 5.3%
Minnesota 5.1%
Mississippi 1.9%
Missouri 3.9%
Montana 6.7%
Nebraska 5.1%
Nevada 7.6%
New Hampshire 4.2%
New Jersey 0.2%
New Mexico 2.6%
New York 5.5%
North Carolina 4.3%
North Dakota 2.2%
Ohio 4.1%
Oklahoma 1.5%
Oregon 11.2%
Pennsylvania 1.6%
Rhode Island 5.0%
South Carolina 5.7%
South Dakota 5.0%
Tennessee 6.0%
Texas 6.7%
Utah 7.9%
Vermont 0.8%
Virginia 2.1%
Washington 10.2%
West Virginia 8.6%
Wisconsin 4.0%
Wyoming 4.1%

Source: CoreLogic July 2016

Home Price Change by Metropolitan Area

HPI for Select Metropolitan Areas July 2016 12-Month HPI Change Year Over Year
Boston MA 5.1%
Chicago-Naperville-Arlington Heights IL 3.8%
Denver-Aurora-Lakewood CO 10.0%
Houston-The Woodlands-Sugar Land TX 4.1%
Las Vegas-Henderson-Paradise NV 6.1%
Los Angeles-Long Beach-Glendale CA 6.7%
Miami-Miami Beach-Kendall FL 6.2%
New York-Jersey City-White Plains NY-NJ 4.2%
San Francisco-Redwood City-South San Francisco CA 3.4%
Washington-Arlington-Alexandria DC-VA-MD-WV 2.5%

Source: CoreLogic July 2016