How US Home prices rose in April

U.S. home prices increased from April 2011 to April 2012 – a positive sign of stabilization for housing market, said the research firm CoreLogic.

On Tuesday, CoreLogic’s home price index showed that home value increased 2.2 percent in April from the previous month and gained 1.1 percent from a year ago.

“On a month-over-month basis, home prices, including distressed sales, increased by 2.2 percent in April 2012. This marks the second consecutive month-over-month increase this year,” said CoreLogic firm in a statement.

U.S. home prices, including distressed sales, rose 1.1 percent over April 2011. This marks the second consecutive year-over-year increase this year.

“We see the consistent month-over-month increases within our HPI and Pending HPI as one sign that the housing market is stabilizing,” said Anand Nallathambi, president and chief executive of CoreLogic.

“Home prices are responding to a restricted supply that will likely exist for some time to come — an optimistic sign for the future of our industry.”

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