US – Home prices up 4% in 2012 (LPS reports)

Home prices increased 4% from the start of the year but remained little changed from one year ago, according to Lender Processing Services data.

The average national home value was $203,000 in June, up 0.7% from the previous month and less than a percentage point from the same month one year prior.  Prices remain 23.5% below the peak of the housing market in 2006, but are nearly level with pre-bubble values measured in 2003, according to past LPS data.

The largest monthly gain in June came in Alaska, where home prices increased 2.4%, followed by more than a full percentage point increase in the hardest hit areas such as New York, Nevada, Arizona and Florida.

The highest increase for metros was a 2.4% gain in Alaska’s largest city Anchorage. Prices also increased 2% in Miami; 1.8% in Reno, Nev.; and 1.4% in Las Vegas.

Source: Housing Wire

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