LPS: Home Prices Increased Slightly In July

Posted by Patrick Barnard on September 23, 2013 No Comments
Categories : Residential Mortgage

U.S. home prices rose 0.6% in July, compared to June, and were up 8.7% compared to July 2012, according to Lender Processing Services' (LPS) Home Price Index (HPI) report.

The average home price in the U.S. increased to $231,000 compared to $229,000 in June and $212,000 in July 2012.

That's still down 14.7% compared to the peak average home price of $270,000 in June 2006.

States that saw the largest increases in home prices from June to July include California (0.5%), Florida (1.0%), New Jersey (0.5%), New York (0.8%) and Texas (0.6%).

Metropolitan areas that saw the largest increases in home prices from June to July included Chicago (0.8%), Dallas (0.6%), Los Angeles (0.3%), New York (0.8%) and Washington D.C. (0.4%).

The LPS HPI combines the company's extensive property and loan-level databases to produce a repeat sales analysis of home prices as of their transaction dates every month for each of more than 18,500 U.S. ZIP codes.

The HPI represents the price of non-distressed sales by taking into account price discounts for bank-owned properties and short sales.

For more, check out the full report.

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