National home prices increased 15.4 percent year over year in May 2021, according to the latest CoreLogic Home Price Index Report. With prices more than tripling in 12 moths, the latest numbers are the highest year-over-year gain since November 2005.
Looking at the four price categories tracked by CoreLogic, the lowest price tier increased 19.2 percent year over year in May 2021, compared with 17.6 percent for the low- to middle-price tier, 17.5 percent for the middle- to moderate-price tier, and 17.1 percent for the high-price tier. Home price growth accelerated to their highest rates in each category since 1976, 2005, 1976 and 1978 respectively.
The five states with the largest gains over the past 12 months include Idaho, Arizona, Utah, Indiana and Montana—all landing above the national increase of 15.4 percent.
On the low end, Illinois, Alaska, Washington D.C., New York and North Dakota all posted increases under 10 percent.