Greetings neighbors,

Wondering about the prices of U.S. homes? Well according to CoreLogic, U.S. home prices increased by 2.9% during the month of May, when compared to last year. This increase actually marked the fourth month in a row for yearly growth in this area since a 0.3% yearly increase in February on the CoreLogic home price index.

May's home prices grew 0.9% in comparison to April's prices which was less than the 1.3% gain in prices from March to April. In addition, CoreLogic reported that homes priced at 75% below the median are the main driving force in the recent increase in overall prices.

According to CoreLogic California (7.9%), Virginia (6.8%), Massachusetts (5.7%), Rhode Island (5.5%), and Vermont (5.1%) were the states with the highest increase in prices two months ago. Distressed sales were also included in these statistics.

As for the states with the greatest losses, CoreLogic named: Idaho (-6.6%), Alabama (-5.3%), New Mexico (-4.2%), Maryland (-3.1%), and Wyoming (-3.1%).

According to CoreLogic, despite the recent increase in sales, U.S. home sales today still remain 28.5% below the peak four years ago during April 2006.