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Housing recovery gains momentum


Hawaii had the second-highest gain in home prices in October, up 13.2 percent from October of last year, second only to the 21.3 percent gains in Arizona, according to analytics firm CoreLogic.

The other leading increases were seen in Idaho and Nevada, where prices grew 12.4 percent, while the increase in North Dakota was 10.4 percent.

Price depreciation still occurred, and the states with the steepest declines included Illinois and Delaware, both down 2.7 percent, Rhode Island and New Jersey, both down 0.6 percent, and Alabama, down 0.3 percent.

The CoreLogic October Home Price Index report shows that nationwide, prices increased by 6.3 in October, compared to the year-earlier period. The figure includes distressed sales.

Company officials say the numbers show that the housing recovery which began earlier in 2012 is continuing to gain momentum.

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