The Year Of The Housing Recovery: CoreLogic Home Price Index Up 3.8% In July, Largest Gain In 6 YearsMark Perryupdated Sep 04, 2012TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity.CoreLogic Home Price Index, Percentage Change Year-Over-Year, January 2002 to June 2012CoreLogic released its July Home Price Index (HPI) report today, here are some highlights: 1. Home prices nationwide, including distressed sales, increased on a year-over-year basis by 3.8% in July 2012. This was the biggest year-over-year increase since August 2006. 2. On a month-over-month basis, including distressed sales, home prices increased by 1.3% in July 2012. The July 2012 figures mark the fifth consecutive increase in home prices nationally on both a year-over-year and month-over-month basis. 3. Excluding distressed sales, home prices nationwide increased on a year-over-year basis by 4.3% in July 2012. On a month-over-month basis excluding distressed sales, home prices increased 1.7% in July 2012, also the fifth consecutive month-over-month increase. Distressed sales include short sales and real estate owned (REO) transactions. 5. The CoreLogic Pending HPI indicates that August home prices, including distressed sales, will rise by 4.6%. 6. Excluding distressed sales, August house prices are also poised to rise 6.0% year-over-year. The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. 7. Mark Fleming, chief economist for CoreLogic: “The housing market continues its positive trajectory with significant price gains in July and our expectation of a further increase in August. While the pace of growth is moderating as we transition to the off-season for home buying, we expect a positive gain in price levels for the full year.” 8. Anand Nallathambi, president and CEO of CoreLogic: “It’s been six years since the housing market last experienced the gains that we saw in July, with indications the summer will finish up on a strong note. Although we expect some slowing in price gains over the balance of 2012, we are clearly seeing the light at the end of a very long tunnel.”MP: The CoreLogic report today provides more evidence that 2012 will be known the year of the U.S. housing recovery. The 3.8% gain in July home prices was the highest annual increase in almost six years, and CoreLogic's pending home price index is predicting an even greater 4.6% gain in August. Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.