Falling Prices: CoreLogic Makes it Two in a Row

Written by: Steve Cook   Wed, November 17, 2010 Beyond Today’s News, Market Trends

Home prices declined for the second month in a row after rising slightly for the first seven months of the year, according to CoreLogic’s Home Price Index for September.

September prices fell 2.79 percent year-over-year, wiping out gains achieved in the first half of 2010 and heralding a period of continued decline as demand continues to contract in the wake of the tax credit boomlet. Distress sales were responsible for most of the loss; excluding distressed sales, year-over-year prices declined .73 percent in September 2010.

August prices fell 1.08 percent nationally year over year.

The top five states with the highest appreciation, including distressed sales, were: NewYork (+2.67 percent), North Dakota (+1.73 percent), California (+.86 percent), Nebraska (+.78 percent), and Virginia (+.77percent).

The five states with the greatest depreciation, including distressed sales, were Idaho (-14.04 percent), Alabama (-8.9 percent), Mississippi (-8.3 percent), Florida (-7.68 percent) and New Mexico (-7.47 percent).

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