By Alex Veiga | The Associated Press
U.S. home prices surged 11.9 percent in June from a year earlier, reflecting stronger demand amid a tight supply of homes for sale.
CoreLogic, a real estate data provider, said Tuesday that home prices climbed on annual basis in 48 states. They fell only in Mississippi and Delaware. And all but one of the 100 largest cities reported price gains.
Nevada led all states with an annual gain of 26.5 percent. That was followed by California (21.4 percent), Wyoming (16.7 percent), Arizona (16.2 percent) and Georgia (14.3 percent).
On a monthly basis, U.S. home prices rose 1.9 percent in June from May, the 16th straight month-over-month increase.
All told, U.S. home values increased 10 percent through the first six months of the year, the firm said.
“Trend in home price gains is moving at the fastest pace since 1977,” said Mark Fleming, CoreLogic’s chief economist.
