LPS reports slower price growth in July
Tuesday, September 24, 2013
Home prices are rising but at a slower rate than they were earlier this year, according to the LPS July Home Price Index Report. Home price appreciation is still geographically broad-based, with all of the states seeing prices either staying flat as in Pennsylvania or rising moderately from June into July. All five of the largest state and metropolitan areas saw the pace of price growth decrease in July, with the most marked change in each seen in California and Los Angeles. Austin, Dallas, Houston and San Antonio, Texas along with Denver, Colo., also continued their upward trajectory, marking new home price highs once again in July.
Non-distressed sales increased significantly by 45 percent over last summer when real estate transactions in general were at historical lows, reflecting a healthier market. At the same time, distressed sales continue to make for a smaller percentage of the real estate market. This is another positive sign for home prices and the market in general, according to the report.
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