California, Bay Area Yearly Home-Price Gains Double National Average
November 11, 2013Home prices in the U.S. increased 10.1 percent, year over year, across the nation in the second quarter of 2013, according to the most recent CoreLogic Case-Shiller Indexes Report. Buyers in the seven California regions included in the study of metropolitan areas with populations greater than 950,000, meanwhile, saw that premium roughly double.
The Sacramento region topped the national list, with year-over-year home-price gains of 25.9 percent. Las Vegas placed No. 2 on the report, with 24.7 percent yearly increases.
Otherwise, California practically owned the high end of the Case-Shiller report, with seven of the state’s markets – including three in the Bay Area — finishing in the top 10 in terms of yearly price increases. According to David Stiff, Case-Shiller’s chief economist, two major factors could be driving price-tag inflation in the state.
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