House prices increased 7.3 percent in 2012, the strongest rate of appreciation in nearly seven years, and are projected to continue to rise, albeit at a slower annualized rate of 3.9 percent through 2017.

That’s according to a new analysis of home price trends in more than 380 U.S. markets by CoreLogic, a residential property analytics company. The analysis is based on the CoreLogic Case-Shiller Indexes, owned and generated by CoreLogic and supplemented with data from the Federal Housing Finance Agency
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Below is an excerpt from of our latest Market Trends newsletter, Keith Gumbinger’s latest examination of the economic conditions that influenced mortgage rates. Sign up to receive the Market Trends in your inbox Friday evening.

The effects of weak economic headwinds do produce some tangible benefits. There may be silver linings to be seen among the clouds of economic slowness, at least for some.

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Homebuyers know schools, jobs, shopping centers and other location-based amenities are important factors to consider when choosing where they want to live. But one other factor–public transportation–should also be high on the list for those who want to maximize the value of their biggest investment.

New study compares homes values, public transportation

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Home prices have been on an upswing in recent months. But the latest numbers are nonetheless jaw-dropping in the degree to which prices have risen, especially in some states that were hit hardest by the housing crisis.

The National Association of Realtors (NAR) reported on Monday that during the fourth quarter of 2012, the median existing single-family home price showed the strongest year-over-year increase in seven years. The national median price was $178,900 in the fourth quarter, up 10 percent compared with $162,600 during the same period in 2011. That’s the strongest year-over-year gain since the fourth quarter of 2005.

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Home prices have been rising and continued to do so through November 2012, according to the latest data.

The Standard & Poor’s Case-Shiller Home Price Indices, a leading and respected measure of U.S. home prices, found prices rose a healthy 4.5 percent for the 10-city composite index and an even stronger 5.5 percent for the 20-city composite index for the 12 months ending November 2012.

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It used to be that loan limits would change every year based on prior housing trends. Given that home values in 2012 largely rose, it might be expected that loan limits in 2013 would increase. In fact, the Federal Housing Finance Agency announced that loan limits will remain unchanged next year.

Generally speaking, the most common loan limit continues to be $417,000. This is high, however, when you consider that the national median existing home sold for $186,100 in the third quarter, according to the National Association of Realtors.

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The post below first appeared on U.S. News & World Report’s Home Front blog on Nov. 20. A special thanks to Meg Handley and the entire Home Front team:

You might have heard rumblings about home prices rising again, even posting double-digit increases in some metropolitan areas. But what you might not know is that the Federal Reserve actually has a hand in the helping the nation’s real estate market recover.

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Home prices were on the rise again last month, but fewer existing homes were for sale and the number of sales declined modestly, according to the National Association of Realtors.

The national median price of existing homes, townhomes, condominiums and co-ops was $183,900 in September, up 11.3 percent from a year ago. The median price is the point at which half of the properties sold for more and half sold for less.

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What more could you ask for?

According to HSH.com’s latest Mortgage Rates Radar, rates continued their downward trajectory this week, as the 30-year fixed-rate set a new record.

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For millions of American homeowners, higher home prices would bring absolute relief. Higher—if not rising—home prices would mean fewer short sales, more refinances and increased inventory as more sellers would be confident enough to re-enter the market. Not to mention rising home prices would boost household wealth nationwide.

According to the latest S&P/Case-Shiller home price report, there is good news on several fronts: Read the rest of this entry »