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Wednesday, 08 May 2013 12:20

March home prices see greatest boost since 2006

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IRVINE – Home prices in the United States in March saw their biggest year over year increase since March 2006, according to residential property information and analytics provider, CoreLogic. Prices nationwide, including distressed sales, increased 10.5 percent in March of this year compared to March 2012.

"For the first time since March 2006, both the overall index and the index that excludes distressed sales are above 10 percent year over year," said Mark Fleming, chief economist for CoreLogic. "The pace of appreciation has been accelerating throughout 2012 and so far in 2013 leading into the home buying season."

The increase was much greater in the Central Valley. In Modesto, home prices, including distressed sales, increased by 17.3 percent in March 2013 compared to March 2012. On a month over month basis, home prices, including distressed sales, increased by 3.1 percent in March 2013 compared to February 2013. In Stockton, home prices, including distressed sales, increased by 15.1 percent in March 2013 compared to March 2012. On a month-over-month basis, home prices increased by 3.2 percent in March 2013 compared to February 2013.

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