Californiarnsaw the greatest month-over-month increase in the HPI, up 2.6 percent for thernmonth to $351,000 and a 17.9 percent increase for the year.  It was followed by Nevada where the indexrnincreased 2.3 percent from March, Oregon, 2.1 percent; Washington, 2.0 percentrn(a 9.5 percent increase year-over-year); and Illinois and Michigan each at 1.9rnpercent.   Illinois was up 4.6 percent on an annual basisrnand Michigan increased 9.4 percent.  No annualrnfigure was given for Nevada.</p

Evenrnthose states at the bottom of the list had solid monthly increases.  Rhode Island had the smallest change, 0.5rnpercent, followed by Tennessee at 0.7 percent, and Virginia and Hawaii, each atrn0.8 percent.  </p

Amongrnmetropolitan areas San Francisco had the strongest showing, a 3.6 percentrnincrease, with Sacramento and San Jose increasing by 3 percent.   All three cities had year-over-year pricerngrowth exceeding 20 percent.   Nine of the ten biggest movers amongrnmetropolitan areas were in California, the single exception being Bend, Oregon,rnnumber seven at 2.8 percent.  Again,rnthose metropolitan areas with the smallest monthly movement were all inrnpositive territory; San Antonio, up 0.1 percent, Virginia Beach, 0.3 percent;rnand Greensboro, North Carolina, 0.4 percent. </p

LPS’srnHPI uses a repeat sales analysis based on April residential real estaterntransactions and information from its own loan-level databases.  The analysis covers more than 15,500 U.S. ZIPrncodes and represents the price of non-distressed sales by taking into accountrnprice discounts for bank owned real estate (REO) and short sales.</p

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