CoreLogic, a private real estate data provider, claims that housing prices are rising throughout the U.S. Out of 100 cities, a mere 20 have showed declines in price throughout much of 2012 (so far). Among the state listed with the biggest price increases are Arizona, Idaho, Utah, Nevada and Hawaii.
States with the biggest decline in pricing were listed as Illinois, Alabama, New Jersey, Rhode Island and Connecticut. Overall, however, the housing market is rebounding in a big way this year than just five years after the bubble burst.
Previously owned homes rose to the highest level since May of 2010 just this past August; single-family homes also rose in September the fastest in over two years. With an increase in spending on single-family homes and the lowest mortgage rates on record in years, home buying is making a come back.
With all this good news, it's important to remember that the housing market does have a long way to go to get back to where it once was. However, some of the most relevant and important strides have been made in recent months, toward recovery. Potential buyers are still having a difficult time qualifying for strict lender standards, however. Buyers are also having to save a bit more now in order to meet larger down payment requirements- something that has fluctuated a bit with all this pricing change.