WASHINGTON, D.C. (Federal Housing Finance Agency) – Home prices in Texas rose 1.76 percent in second quarter 2013, according to the Federal Housing Finance Agency’s House Price Index (HPI). Nationally, prices were up 2.1 percent.

Texas ranked 17th in home price appreciation by state for the year ending June 30, 2013. Prices were up 6.7 percent for that period compared with 7.22 percent for the United States.

Nevada ranked first with a one-year price appreciation rate of 22.78 percent.

“Texas’ increase is not as high as the national average, but we’re increasing from an increasing base, not from the bottom of a trough,” said Real Estate Center Research Economist Dr. Jim Gaines.

Even with their increase over the past year, the nation’s overall housing prices were still down 4.35 percent at the end of June 2013 from where they were five years ago. Meanwhile, Texas prices were up 9.77 percent.