Top 10 states where home prices are surging

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A leading index of U.S. home prices in August rose 1.3% from July and 12.8% from August 2012. Above, a home for sale in Walpole, Mass., in September.

A “For Sale” sign in front of a house in Walpole, Mass.

The rebound in home prices from post-bubble lows is still intact. With the help of low interest rates and inventory levels, many areas of the country continue to post impressive price gains.

In September, home prices across the nation increased on a year-over-year basis for the 19th consecutive month. According to CoreLogic, a property information and analytics provider, home prices jumped 12% in September from a year earlier. In fact, home prices have posted double-digit gains for eight straight months.

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“U.S. home prices continued their ascent in September. Average home prices in nearly half the states are now within striking distance of their pre-downturn pricing peaks,” explained Anand Nallathambi, president and CEO of CoreLogic.

Home prices are still 17.4/% below their bubble peak in April 2006, but every state logged an annual increase in September. West Virginia and Arkansas posted the smallest gains at 0.9% and 1.3%, respectively. As they say in Real Estate 101, it’s all about location. Here are the top 10 real estate markets by state, according to year-over-year price gains from CoreLogic.

10. Utah — 11.9%

9. Washington — 12%

8. Florida — 12.1%

7. Idaho — 12.4%

6. Oregon — 13.6%

5. Michigan — 13.9%

4. Georgia — 14.4%

3. Arizona — 14.6%

2. California — 22.5%

1. Nevada — 25.3%

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Courtesy of USA Today

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