/ Modified sep 4, 2012 9:53 a.m.

AZ Housing Prices Up 16.6% in 1 Year

State leads U.S. in biggest gain since 2006, tracking firm says

Arizona home prices rose 16.6 percent in July, the biggest year-to-year gain in the nation, a real estate analytics and tracking company reported Tuesday.

CoreLogic also reported a 3.8 percent increase in home prices nationally.

The report was made on CoreLogic's website in a press release.

“The housing market continues its positive trajectory with significant price gains in July and our expectation of a further increase in August,” CoreLogic chief economist Mark Fleming said in the press release. “While the pace of growth is moderating as we transition to the off-season for home buying, we expect a positive gain in price levels for the full year.”

CoreLogic, based in Santa Ana, Calif., gathers its data by tracking the changing prices of the same homes over time in a majority of the country's ZIP codes.

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