A recent report shows home prices nationwide saw the biggest year-to-year increase in more than six years.
But while some state’s homes saw an increase in prices as high as 18 percent, Connecticut was among the six states to see a decrease from last year as of August. Compared to last year, home prices decreased .5 percent in Connecticut, which includes distressed home prices.
CoreLogic, a data analytics company, compiled the report.
Nationwide, home prices increased 4.6 percent year-over-year, the largest increase since July 2006 before the housing market crashed.
“Improving pricing trends over the past few months and our forecast for continued gains in September bode well for a progressive rebound in the residential housing market,” said Anand Nallathambi, CoreLogic CEO, in a prepared statement. “Sustained economic recovery in the U.S. requires a healthy housing market. You cannot have a healthy housing market without price stabilization and ultimately home price appreciation.”
After the report’s publication, the Dow Jones industrial average, Standard & Poor’s 500 index and the Nasdaq composite index were up 25, six and 16 points respectively, according to the Associated Press.
