While home prices nationally increased by 6.1% in October, the top five states for home price appreciation, including and excluding distressed sales, all came in higher than the national average.
The five states with the highest home price appreciation (Including distressed sales):
- Michigan (10.5%)
- South Dakota (10.4%)
- Montana (9.1%)
- Texas (8.7%)
- Colorado (8.6%)
The five states with the highest home price appreciation (Excluding distressed sales):
- South Dakota (10.4%)
- Massachusetts (9.7%)
- Maine (8.4%)
- Texas (8.1%)
- Michigan (8%)
Across the board, including distressed sales, all states showed year-over-year home-price appreciation in October, with 27 states and the District of Columbia at or within 10% of their home price peak.
“The gradual recovery of the housing market continues to be propelled by improving employment, more buyer and seller confidence, continued low rates and, in certain parts of the country, investor demand. The continued actual and projected rise in home prices confirms that fact,” said Anand Nallathambi, president and CEO of CoreLogic. “Based on our projections, home prices in over half the country will have reached or surpassed levels last seen at the height of the housing bubble sometime in mid-2015.”
