Home prices were up 2 percent in the San Diego-Carlsbad-San Marcos market in September 2012 compared to September 2011, according to CoreLogic’s September Home Price Index (HPI) report. Prices, including distressed sales, are up 1 percent compared to August 2012.
Excluding distressed sales, year-over-year prices increased by 5.4 percent in September 2012 compared to September 2011, and increased by 3.5 percent in August 2012 compared to August 2011.
Home prices, excluding distressed sales, increased by 1.1 percent in September 2012 compared to August 2012.
California was among the five states with the highest home price appreciation. Excluding distressed sales, the five states with the highest home price appreciation were: Arizona (+14 percent), Idaho (+10.5 percent), Nevada (+9.5 percent), Montana (+8.5 percent) and California (+8.4 percent).
“Home prices are responding to better market fundamentals, such as reduced inventories and improved buyer demand,” said Anand Nallathambi, president and CEO of CoreLogic (NYSE: CLGX). “So far this year, we’re seeing clear signs of stabilization and improvement that show promise for a gradual recovery in the residential housing market.”