Arizona housing price gains above national average

U.S. home prices increased nearly 4 percent between July 2011 and July 2012, according to a private realty tracking firm. But in Arizona , gains were well above the national average. 

Real estate data provider CoreLogic said Tuesday home prices rose an average of 3.8 percent in the 12 months ending in July. That’s the largest year over year increase in six years.

The states with the biggest price gains according to CoreLogic were Arizona , Idaho , Utah , South Dakota , and Colorado . Here in Arizona , prices rose 16.6 percent. Idaho saw a 10 percent gain.

Some states, like Alabama and Delaware , actually saw housing prices drop. And overall, real estate values remain 27 percent below their April 2006 peak.

Still, the CoreLogic survey is the third recent example of a steady increase in real estate prices.