US home prices, including distressed sales, increased 10.5% over the year to March, according to CoreLogic, America's leading provider of residential property information.
The growth represents the biggest year-on-year increase since March 2006 and the 13th consecutive monthly increase in home prices across the entire USA.
Anand Nallathambi, president and CEO of CoreLogic, attributed the increase to a stabilising property market. “Much of the price increases we are seeing are the result of rising demand among investors and homebuyers for a still-limited supply of homes for sale,” he said.
Excluding distressed sales, home prices increased on a year-over-year basis by 10.7% over the year to March 2013.