LPS: Home Prices Up 2.5% During First Four Months Of 2012

Posted by Orb Staff on July 17, 2012 No Comments
Categories : Residential Mortgage

12005_87466450 LPS: Home Prices Up 2.5% During First Four Months Of 2012 Home prices saw a 2.5% increase during the first four months of this year, according to new data from Jacksonville, Fla.-based Lender Processing Services Inc. (LPS).

‘Home prices have risen 2.5 percent so far this year, indicating an exceptionally strong spring,’ says Raj Dosaj, vice president of LPS Applied Analytics. ‘While prices typically see a boost in the spring, the magnitude and speed of this increase and its consistency across the nation have not been seen since October 2005.’

LPS adds that April home prices increased in 563 of the 579 metropolitan statistical areas (MSAs) covered by the company's data. In the remaining 16 MSAs, prices fell less than 0.2%. Only two major MSAs – Los Angeles and Hartford, Conn. – saw a slight price decrease, declining 0.04% and 0.03%, respectively.

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