Chicago-area home prices up 7% year-over-year in July

From a CoreLogic news release:

Home prices nationwide, including distressed sales, increased 7.4 percent in July 2014 compared to July 2013. This change represents 29 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased 1.2 percent in July 2014 compared to June 2014.*

Excluding distressed sales, home prices nationally increased 6.8 percent in July 2014 compared to July 2013 and 1.1 percent month over month compared to June 2014. Also excluding distressed sales, all 50 states and the District of Columbia showed year-over-year home price appreciation in July. Distressed sales include short sales and real estate owned (REO) transactions.

Chicago-Naperville-Arlington Heights home prices, including distressed sales, increased by 7.0 percent in July 2014 compared to July 2013. On a month-over-month basis, home prices, including distressed sales, increased by 2.3 percent in July 2014 compared to June 2014.

Excluding distressed sales, year-over-year prices increased by 6.2 percent in July 2014 compared to July 2013. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI indicates home prices increased by 1.6 percent in July 2014 compared to June 2014.

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