The latest in a series of positive housing reports shows significant year-over-year and month-over-month gains for Sacramento-area home prices, mirroring a national trend of a housing market on the mend.
Santa Ana-based CoreLogic said prices in the four-county Sacramento region rose 4.6 percent in July from the same period a year before and increased 2.3 percent from June to July.
The figures included sales of foreclosed homes and other distressed properties. Excluding distressed properties, area home prices rose in July by 5.6 percent compared with July 2011 and by 3.1 percent from June to July.
The year-over-year gains in this area outpaced the national average of 3.8 percent increase from July 2011 to July 2012, including sales of distressed properties, CoreLogic reported. Excluding distressed sales, home prices rose by an average of 4.3 percent nationally year over year in July, the firm said in a news release.
The national gains were the most significant in the past six years, CoreLogic executives said.
"The housing market continues its positive trajectory with significant price gains in July and our expectation of a further increase in August," said Mark Fleming, chief economist for CoreLogic. "While the pace of growth is moderating as we transition to the off-season for home buying, we expect a positive gain in price levels for the full year."
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