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Economic Report: State-by-state look at house prices as East, Midwest struggle

Out West, U.S. home prices are growing much faster than inflation. In parts of the East and Midwest, they’re not even keeping up.

That’s the conclusion to be drawn from the latest home-price data from CoreLogic. In July, prices rose 1.1% to take the national year-over-year gain to 6%. In the 12 months ending July, inflation rose only 0.8%, according to the Labor Department’s consumer price index.

But there’s a big difference regionally where prices are growing, and where they are not.

The hot housing markets are in the Pacific Northwest: Oregon prices grew 11.2% in the 12 months ending July, and Washington state grew 10.2%, the only two states that sported double-digit gains.

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