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House prices rise in hot markets

Washington, D.C., is a hot real estate market this summer.

Washington, D.C., is a hot real estate market this summer.

Moving trucks are likely to be a common sight in the cities that CoreLogic reports saw year-over-year increases in house prices in June.

While real estate prices have declined nationwide since last summer, some metro areas have bucked this trend. Washington, D.C., experienced a 2.4 percent year-over-year increase between June 2010 and 2011, according to CoreLogic. A variety of publications have recently named the city a top location for families and young people and a hub for tech jobs. Such reports suggest demand should be high for real estate in the nation's capital.

CoreLogic also reports Midwest states with strong economies saw year-over-year home price increases. CNBC ranked North Dakota, where house prices rose 1.2 percent, one of the best states for business in 2011. Nebraska also experienced a rise in house prices (0.1 percent), and the state's historic rail hub of Omaha recently took the top spot on Kiplinger's list of great value cities, thanks to a thriving business sector, low cost of living and quirky cultural offerings.

Excluding distressed properties, house prices in Texas rose 2.8 percent during the last year. ProximityOne predicted Austin will see the second-highest population growth of any U.S. city in the next decade, making it the Lone Star State's relocation hotspot.