Year-on-year house price gain hits six-year high
WASHINGTON (MarketWatch) — U.S. home prices grew 0.4% in December to stretch the year-on-year gain to 8.3%, the strongest advance since May 2006, CoreLogic said Tuesday. CoreLogic said 46 of 50 states registered gains for the year. Arizona has the strong year-on-year appreciation at 20.2%, though prices are down 39.8% from the peak. Nationally, prices are down 26.9% from the April 2006 peak. CoreLogic’s pending index forecasts a 1% monthly drop in January, reflecting a seasonal winter slowdown.
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