The US homes market is rolling on posting more increases for 53 months in a row, according to the latest statistics.
The price of family homes, including distressed sales, was up 1.1% from May to June, says market monitor CoreLogic.
Meanwhile, the year on year national increase was 5.7%.
Although home prices are expected to keep rising, the pace of the increase is slowing, says the company.
In July, the predicted increase is 0.6% and the year on year increase for June 2017 is set at 5.3%.
Prices still below 2006 peak
Nevertheless, despite close to five years of home values increasing, the average home is still priced at 6.7% less than the peak value recorded in April 2006.
CoreLogic does not anticipate US house prices hitting a new peak until November 2017.
“Mortgage rates were at a three-year low in June, which was a big help for buyers,” said Dr Frank Northaft, the firm’s chief economist.
“Local markets with strong economic growth have seen prices increase the most.
“Denver has the lowest number of people out of work and the strongest rise in home prices out of all the metropolitan areas.”
The Colorado city saw home prices rise by 0.8% between May and June and a 10.2% increase year on year.
State-by-state stats
State-by-state, the figures show 23 states and the District of Columbia posted new home price highs in June.
The five states recording the largest year on year home price increases were Oregon (10.9%); Washington (10.3%); Colorado (9.2%); Utah (7.9%) and Nevada (7.7%).
The five states with the best value homes that are farthest from their peak value in April 2006 are Nevada (-32%); Florida (-23.9%); Arizona (-23.5%); Maryland (-20.7%) and Rhode Island (-19.6%).
Home prices fell in Maine (-0.6%) and Mississippi (-0.5%), while those in New Mexico were unchanged.
Values increased in every other state.
CoreLogic also reports homes are selling for more than the list price in many cities, with Santa Clara, California, leading the way with 80% of sales in the second quarter of 2016 going for more than the asking price.
California cities took the first 10 places in the table of cities where bidding wars were hotting up.
