US house prices up 12.5% in 2004

US house prices increased 12.5% in 2004, four times faster than the general inflation rate. Prices rose more than 20% in five states and the District of Columbia, the Office of Federal Housing Enterprise Oversight said. 2004 house prices rose 31.2% in Nevada and 25.4% in California. In Q1 2004, home prices rose fastest in Arizona (up 5.2%), Florida (up 4.4%) and Hawaii (up 4.1%).