Washington State Ranks 14th in Home Price Gains

Washington state ranks 14th in home price gains

Home prices continue to increase across the country with Washington state ranking 14th in terms of price gains, according to CoreLogic, a residential housing information provider based in Irvine, California.

Using CoreLogic’s home price index, which tracks repeat sales of single-family homes across the country, home prices nationwide rose 9.7 percent in January 2013 compared to January 2012. The figure includes distressed sales and marks the 11th consecutive increase in national home prices and the biggest increase since April 2006, CoreLogic said.

“With these gains, the housing market is poised to enter the spring selling season on sound footing,” CoreLogic chief economist Mark Fleming said in a release.

Home prices in 15 states are within 10 percent of their peak, with only Illinois and Delaware missing year-over-year gains.

In Washington state, prices rose 8.4 percent to rank 14th behind New York, which had an 8.6 percent gain. The greatest price increases came in two of the states hit hardest by the housing crash: 20.1 percent in Arizona and 17.4 percent in Nevada.

-Jeanne Lang Jones, Staff Writer for the  Puget Sound Business Journal