U.S. home prices rose 7.3 percent for the most recent quarter with each of the nation’s four regions posting gains, according to a new report from Clear Capital, a real estate asset valuation company.
Home prices rose 16.4 percent in the Midwest, 5.7 percent in the South, 5.4 percent in the Northeast and 3.0 percent in the West. Clear Capital’s monthly report looks at home prices on a rolling quarterly basis.
Saturation levels of REO properties declined in the quarter with 28 of 30 major markets showing improvement over last month’s rates. Los Angeles and Fresno, Calif., returned their first positive quarterly price gains since mid-2006, while Chicago achieved its largest quarterly gain (19.9 percent) this decade.