CoreLogic Home Prices Show First Increase in 10 Months

by devteam May 8th, 2012 | Share

House prices reflected in CoreLogic’s March Home Price Index which was released today increased on a month-over-month basis for the first time in nearly a year.  The Index which measures home prices including sales of distressed properties increased by 0.6 percent from February, the first such increase since July 2011.  The Index, however, was down the by the identical number from the Index in March 2011.  When distressed sales (short sales and sales of lender-owned properties (REO)) are excluded, the month-over-month number was up for the third consecutive month and was 0.9 percent higher than the corresponding number in March 2011. </p

The national HPI including distressed sales has decreased 33.7 percent from its peak in April 2006 to present.  When distressed sales are excluded the peak-to-current change in the HPI was -24.5 percent.</p

“This spring the housing market is responding to an improving balance between real estate supply and demand which is causing stabilization in house prices,” said Mark Fleming, chief economist for CoreLogic. “Although this has been the case in each of the last two years, the difference this year is that stabilization is occurring without the support of tax credits and in spite of a declining share of REO sales.”</p

The states with the highest level of appreciation in the Index, including distressed sales, were Wyoming (+5.9 percent), West Virginia (+5.3 percent), and Arizona (+5.1 percent).  When distressed sales are not included the greatest appreciation occurred in Idaho (+5.4 percent) North Dakota (+5.1 percent), and South Carolina (+4.7 percent).</p

States with the largest decrease including distressed sales were Delaware (-10.6 percent), Illinois (-8.3 percent), and Alabama (-8.0 percent).  Excluding distressed sales the depreciation was greatest in Delaware (-7.6 percent), Alabama (-4.1 percent), and Nevada (-3.9 percent.)</p

Of the top 100 Core Based Statistical Areas as measured by population 57 had annual declines as of March, eight fewer than in February.

All Content Copyright © 2003 – 2009 Brown House Media, Inc. All Rights Reserved.nReproduction in any form without permission of is prohibited.

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

See all blogs


Leave a Comment

Leave a Reply

Latest Articles

Real Estate Investors Skip Paying Loans While Raising Billions

By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...

Late-Stage Delinquencies are Surging

Aug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...

Published by the Federal Reserve Bank of San Francisco

It was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...