Nevada near the top in home price increases

LAS VEGAS -- Nevada had the nation's third highest jump in home prices in June compared to a year ago but also has the most ground to make up from when prices peaked before the housing market meltdown, according to data released Thursday by real estate analytics company CoreLogic.

The Irvine, Calif., company reported that Nevada housing prices in June were 11.1 percent higher than the same month in 2013, a performance exceeded only by Michigan (up 11.5 percent) and California (up 11.3 percent). Housing prices nationally rose 7.5 percent.

But Nevada housing prices were still 37.3 percent below their peak in March 2006, the deepest deficit in the nation. By comparison housing prices nationally also remain below their peak in April 2006 but only by 12.9 percent.

CoreLogic also reported that Nevada's home foreclosure inventory was down 46.1 percent from a year ago, the nation's fifth largest drop behind Arizona, Utah, Minnesota and Georgia.

 


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