Average home values jump more than 10 percent in February

Home values continue to climb throughout the country.A new report indicates that home prices nationwide appreciated significantly in a month that typically sees limited home sales.According to property information and analytics provider CoreLogic, home prices throughout the U.S. increased more than 10 percent?in February when contrasted with the same month last year. This type of rise in year-over-year home values has not been apparent since March 2006, during the housing bubble. It also marks the 12th straight month in which home prices have elevated.Mark Fleming, CoreLogic chief economist, noted that the appreciating home values were largely driven by markets in the Southwest.”Eight of the top 10 highest appreciating large markets are in California, with Phoenix and Las Vegas rounding out the list,” said Fleming.The Houston real estate sector's home values performed well in February as well. The Houston Association of Realtors reports that home prices averaged $220,445, the highest level ever recorded for the second month of the year in Houston.
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