“House price growth continues to surprise to the upside,” said Dr. Mark Fleming, chief economist for CoreLogic. “Increasing demand for new and existing homes, coupled with low inventory, has created a virtuous cycle for price gains, most clearly seen in the Western states with year-over-year gains of 20 percent or more.”
(Read More: Map: Tracking the US Real Estate Recovery)
The five states with the highest price appreciation were Nevada, up 24.6 percent, California, up 19.4 percent, Arizona, up 17.3 percent, Hawaii, up 17 percent and Oregon, up 15.5 percent, according to CoreLogic.
Article source: http://www.cnbc.com/id/100788242