Metro-area home prices climb 3.7 percent in July




Home prices in the Portland-Vancouver-Hillsboro metro area, including distressed sales, increased by 3.7 percent in July 2012 compared with July 2011, California-based CoreLogic reported Tuesday.

Metro-area home prices also increased by 4 percent in June 2012 compared with June 2011. On a month-over-month basis, home prices — including distressed property sales — increased by 1.2 percent in July from June. Without distressed sales, year-over-year prices increased by 3.3 percent in July compared with the same month last year and increased by 2.9 percent in June compared to June 2011.

On a month-over-month basis, excluding distressed sales, CoreLogic found July home prices increased just slightly, up 0.9 percent from June.

Home prices nationwide in July were up by 3.8 percent from the same month last year, the largest year-over-year increase since August 2006, CoreLogic reported.