National home prices--including distressed sales--posted a 1.3% increase in January, according to a U.S. Home Price Insights Report released Tuesday by CoreLogic. This is a 6.9% year-over-year growth compared with January 2015.
States that reached remarkable y-o-y gains--including distressed sales--in January include Colorado (10.9%), Hawaii (7.5%), North Carolina (5.6%), Nebraska (5.9%), New York (6.3%), Oregon (10.0%), Tennessee (6.3%), and Texas (7.2%). Louisiana and Mississippi showed negative home price appreciation at -1.1% and -1.3%, respectively.
"While the national market continues to steadily improve, the contours of home price recovery are shifting. The northwest and Rocky Mountain states have experienced greater appreciation and account for four of the top five states for home price growth," said Dr. Frank Nothaft, chief economist for CoreLogic, in a statement.