July 2, 2013
Homes across Charlottesville are gaining value according to new data released Tuesday by CoreLogic.
The data shows home prices in Charlottesville rose by 2.9-percent in May of this year compared to this same time last year.
Nationally, home prices have increased by 12.2-percent since last year, the biggest year-over-year increase nationally since February 2006.
CoreLogic economists say it's been more than seven years since the housing market last experienced price increases of this size, and they expect the summer months will continue to see significant gains.