WASHINGTON, Sept. 1 (UPI) -- U.S. home prices rose 9.4 percent last quarter, the biggest year-over-year rise since 1979, the Office of Federal Housing Enterprise Oversight said Wednesday.
Nevada saw the largest rise in second-quarter home-price increases, 7.53 percent, more than most states saw in the entire past year.
The Consumer Price Index shows that house prices over the past four quarters went up 9.36 percent, while prices of other goods and services went up 3.03 percent.
OFHEO's House Price Index is a quarterly report analyzing housing price appreciation trends.
The three states that saw the biggest increases over the past year are: Nevada, Hawaii, and California. As in last quarter, the smallest increases occurred in Utah, Texas, and Indiana. However, this time no states experienced negative quarterly growth.
The top 17 Metropolitan Statistical Areas (MSAs) with the largest price gains in the past year are in California (14), neighboring Nevada (2), and the central Atlantic coast of Florida (3). All saw prices rise more than 17.6 percent. Las Vegas saw the biggest price jump, 24.9 percent.
