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Home | News | Market Studies | LPS: Home Prices Up in May, Delaware Leading Charge
Hudson & Marshall
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LPS: Home Prices Up in May, Delaware Leading Charge

Lender Processing Services (LPS) released Friday its latest Home Price Index (HPI) report, showing that prices increased both month-over-month and year-over-year. The report, based on residential real estate transaction data as of the end of May, revealed that the home price index for the month was $202,000, a 0.9 percent month-over-month increase and a 3.2 percent increase from the start of the year.

""Lender Processing Services"":http://www.lpsvcs.com/Pages/default.aspx (LPS) released Friday its latest Home Price Index (HPI) report, showing that prices increased both month-over-month and year-over-year.

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The report, based on residential real estate transaction data as of the end of May, revealed that the home price index for the month was $202,000, a 0.9 percent month-over-month increase and a 3.2 percent increase from the start of the year.

In addition, May's index represented a 0.4 percent year-over-year increase.

Of the country's 20 largest states, Arizona gained the most ground in May, with home prices jumping to $170,000 (a 1.7 percent rise from April). It was followed by Oregon, North California, Massachusetts, Maryland, and Georgia.

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California posted the highest HPI in May, settling at $298,000-a 0.4 percent gain from April.

Of the nation's 40 largest metros, most posted month-over-month growth of around 1.0 percent. Phoenix showed the largest gains with a 2.1 percent price increase, while San Francisco, San Jose, and Boston ranked second with 1.5 percent HPI growth.

Only two metros reported no growth: Columbus saw its HPI fall 0.2 percent, and Baltimore stayed more or less flat.

*Top five states in HPI growth month-over-month (all states):*
* Delaware (2.6 percent)
* Alaska (2.3 percent)
* Arizona (1.7 percent)
* North Carolina (1.6 percent)
* Washington, D.C. (1.5 percent)

*Top five metros in HPI growth month-over-month (all metros):*
* Anchorage, Alaska (2.3 percent)
* Phoenix, Arizona (2.1 percent)
* Asheville, North Carolina (1.9 percent)
* Ocean Pines, Maryland (1.8 percent)
* Bend, Oregon (1.7 percent)

Hudson & Marshall

About Tory Barringer

Tory Barringer
Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.

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