Home prices continue to ramp up nationwide | Armonk Real Estate

Representing a new post-bubble high, Las Vegas experienced a 31.2% jump in annual home prices in July, becoming the first metro to surpass 30% growth since the beginning of the recovery.

In the latest home data index released by Clear Capital, July home price trends continued to be strong both nationwide and when broken down between the nation’s four major regions.

Nationally, home prices grew 9.3% from last year, and were up 1.6% over the previous quarter. Interestingly enough, national home prices remained 33.4% below peak values, indicating the new norm for the nation’s housing.

“While July home prices continue to ramp up throughout the country led by Las Vegas posting more than 30% yearly growth, let’s not forget a healthy recovery means moderation as the new normal takes hold,“ said Alex Villacorta, vice president of research and analytics at Clear Capital.

Over the last half of 2013, Clear Capital continues to call for a moderation in home price trends. “A rising price floor will dampen some potential homebuyers’ appetites, particularly as recent gains bring many markets back into pre-bubble equilibrium,” Villacorta added.

Home prices continue to ramp up nationwide | 2013-08-06 | HousingWire.