WASHINGTON (AP) -- A measure of U.S. home prices jumped 4.6 percent in August compared to a year ago. That's the largest year-over-year increase in more than six years.
CoreLogic is a private real estate data provider, and today it also says prices rose 0.3 percent in August from July.
Steady price increases, combined with greater home sales and rising builder confidence, suggest the housing recovery may be sustainable.
CoreLogic says housing prices are rising in most areas. Only 20 large cities out of 100 tracked showed declines in the 12 months ending in August. That compared to 26 in July. And only six states reported declines in August.
States with the biggest price increases in the past 12 months were Arizona, Idaho, Nevada, Utah and Hawaii. The states with the biggest declines were Rhode Island, Illinois, New Jersey, Alabama and Connecticut.
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