Home Prices Rising In Idaho
(AP) A nationwide study shows home prices are on the rise, and in Idaho prices are climbing faster than other states. The study done by CoreLogic compares home prices in July of 2011 to July of this year. Nationwide prices increased 3.8%. That is the biggest year-over-year increase since 2006. Idaho home prices crept even higher than that, ending up with a 10% increase in home prices from July of 2011 to July of 2012. CoreLogic says Idaho is second best state for rising home values. Idaho real estate officials say it is hard to pinpoint exactly why prices are going up. But three factors may be playing a part... Low interest rates have allowed more people to buy, inventory levels are dropping, and there aren't as many bank owned properties for sale. CoreLogic believes home prices will continue to rise nationwide in August.