RISMEDIA, January 12, 2011—CoreLogic, a leading provider of information, analytics and business services released its November 2010 Home Price Index (HPI) which shows that home prices in the U.S. declined for the fourth month in a row. According to the CoreLogic HPI, national home prices—including distressed sales—declined by 5.07% in November 2010 compared to November 2009 and declined by 3.35%* in October 2010 compared to October 2009. Excluding distressed sales, year-over-year prices declined by 2.21% in November 2010 compared to November 2009 and declined by 2.24%* in October 2010 compared to October 2009. Distressed sales include short sales and real estate owned (REO) transactions.
Highlights as of November 2010:
-Including distressed sales, the five states with the highest appreciation were: Maine (+8.58%), North Dakota (+4.41%), Wyoming (+3.67%), New York (+2.07%) and Vermont (+1.78%).
-Including distressed sales, the five states with the greatest depreciation were: Idaho (-13.56%), Alabama (-11.18%), Arizona (-10.38%), Oregon (-9.26%) and Mississippi (-8.37%).
-Excluding distressed sales, the five states with the highest appreciation were: Wyoming (+6.47%), North Dakota (+4.91%), Maine (+4.46%), New York (+3.96%), and District of Columbia (+3.54%).
-Excluding distressed sales, the five states with the greatest depreciation were: Idaho (-10.42%), Alabama (-7.82%), Arizona (-7.81%), Nevada (-6.13%) and Washington (-6.05%).
-Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to November 2010) was -30%. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -21.7%.
“We’re continuing to see the influence of seasonal declines that typically depress home prices during the latter part of the year, but the fact that the rate of decline increased for November is indicative of the uphill battle we’re facing with the housing recovery,” said Mark Fleming, chief economist for CoreLogic.
For more information, visit www.corelogic.com.
