Austin home prices continue to escalate

By: Jan Buchholz

Home prices continue to inch up in Austin, according to a report released today by CoreLogic Inc.

Even counting distressed sales, Austin home prices rose 6.9 percent in June compared to the same month last year. Excluding distressed sales, which includes foreclosures and short sales, home prices jumped 7.5 percent in June compared to a year ago.

Among major metropolitan areas, Phoenix by far recorded the biggest jump in home prices at nearly 17 percent, including distressed sales. Minus distressed sales, Phoenix experienced almost 12 percent in housing price increases during the past year.

That translated into the highest appreciation rates in the state of Arizona, even taking into account distressed sales. Other states that showed increased values were Idaho, South Dakota, Utah and Wyoming. Remove distressed sales and the states with the highest appreciation were South Dakota, Utah, Montana, Arizona and Wyoming.

The states with the greatest depreciation, including distressed sales, were Alabama, Connecticut, Illinois, Georgia and Delaware. Without distressed sales, the states with the greatest depreciation were Delaware, Alabama, Connecticut, New Jersey and Kentucky.


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