Austin Home Prices Rise 6.5%

Home prices in Austin are appreciating at a rate greater than the national average and that includes distressed sales, according to a report released today by CoreLogic CoreLogicLatest from The Business JournalsHome prices start to rise with drop of ‘shadow inventory’‘Shadow inventory’ of homes falls to 1.5 millionSacramento still dominated by distressed home salesFollow this company .

Between April 2012 and and the same month last year, home prices rose 6.5 percent in Austin compared with 1.1 percent nationally. If distressed sales are excluded, Austin prices rose 6.3 percent.

Similar increases were recorded during the 12 months prior to March 2012.

Statewide, Texas posted 2.4 percent increases in home prices for the 12 months ending in April 2012 including distressed sales, and a 3.7 percent increase excluding distressed sales.

States with the highest appreciation including distressed sales were Arizona, District of Columbia, Florida, Montana and Utah. Those with the highest appreciation excluding distressed sales were Utah, Idaho, Mississippi, Louisiana and Arizona.

States with the least appreciation including distressed sales were Delaware, Illinois, Alabama, Rhode Island and Georgia. Those with the least appreciation excluding distressed sales were Delaware, Rhode Island, Alabama, Vermont and Connecticut.

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