May ’10 Housing Prices Higher Than May ’09

Home Prices Continue Gains Over 2009
U.S. home prices, including distressed sales, increased by 2.9 percent compared to the same month last year, according to CoreLogic in its monthly index.

May was the fourth straight month prices showed a year-over-year increase.

“Home price appreciation stabilized as home buyer tax credit-driven sales peaked in late spring,” says Mark Fleming, chief economist for CoreLogic. “But given that the labor market and income growth remain tepid, we expect prices to moderate and possibly decline the rest of the year.”

The top five states with the highest year to year increase were Vermont, Rhode Island, Massachusetts, Virginia and California
Read the full report here     Source: CoreLogic (07/13/2010)