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LPS: Prices Up Monthly, Alaska Posts Greatest Gain

U.S. home prices averaged $200,000 in April 2012, posting a monthly gain, but still down from a year ago, ""Lender Processing Services"":http://www.lpsvcs.com/Pages/default.aspx revealed in a preliminary release.

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According to the analytics company's Home Price Index (HPI), which reports on price changes based on residential real estate transactions occurring in April 2012, prices increased 1.1 percent from the month before and decreased by 0.1 percent from April 2011.

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The states, including the District of Columbia, which posted the greatest monthly increases were Alaska (2.6 percent), D.C. (2.4 percent), and Georgia (2.2 percent).

On the other hand, Pennsylvania (0.3 percent), Vermont (0.2 percent), and Connecticut (0.1 percent) were the states that gained the least over a month.

The metro areas that led with the biggest gains were Anchorage (2.6 percent), Phoenix (2.3 percent), and Atlanta (2.1 percent). The bottom three metros were in Connecticut - New Haven, Norwich, and Torrington. All three did not see gains or increases.

Among the more populated states, California saw a slight monthly increase of 0.6 percent and a 1 percent decline compared to a year ago. Texas and Florida both saw monthly and yearly increases.

New York and Dallas posted monthly and yearly price gains while Los Angeles posted no monthly gain and a 2 percent decrease compared to a year ago.

Chicago home prices rose by 2 percent from the month before in March, but declined year-over-year by 2.7 percent.

About Author: Esther Cho

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