Nevada Leads Nationwide Single-Family Home Price Jumps

CoreLogic reports that rising demand and scarce supply have driven up single-family home prices 11.9% nationwide year-over-year, with Nevada spearheading the surge. Nevada and California are at the front of the pack with home price jumping 26.5% and 21.4%, respectively. No other state saw price gains greater than 17%. Although national home prices remain 19% below peak levels in 2006, all but two states notched yearly increases.

Moreover, the National Association of Realtors reported in June that sales of existing homes are approaching a 3.5-year high, rising 15.2% year-over-year to 5.08 million.

Read the full article at Las Vegas Review-Journal