CoreLogic's Molly Boesel offers up the latest reading from the firm's Home Price Index, which showed home prices, including distressed sales, grew by 6.4% year-over-year in September. The gains, while healthy, are still 7% below the peak in prices seen in April 2006.
Colorado saw the biggest year-over-year bump, at 10.4%. Fresh on its heels was Washington, which saw a 10% gain, and Oregon with its 9.1% growth. In fact, only two states, Mississippi and Louisiana, saw a depreciation in September, while the state with the most catching up to do remains Nevada, where prices are still 30.4% below the peak seen in March 2006.
This price tier also recovered 53.3 percent from its lowest point in March 2009 and is the only price tier to pass its pre-crisis peak. Although the low-to-middle tier has recovered 44.2 percent from its lowest point in March 2011, and has grown by 7.2 percent year over year, it is still the furthest from its peak of all the price tiers, down 8.5 percent.The middle-to-moderate price tier increased 5.7 percent year over year in September 2015, but remains 7.6 percent below its peak. The high price tier, which fell the least during the housing crisis, increased 4.6 percent year over year in September 2015 and remains 5.6 percent below its peak.