PrintHome prices increased on a national basis by 0.7 percent between March and April 2011 for the first time since the home-buyer tax credit expired in mid-2010.
CoreLogic reported the month-to-month breakthrough in its April Home Price Index. However, national home prices, including distressed sales declined by 7.5 percent in April 2011 compared to April 2010 after declining by 6.8 percent* in March 2011 compared to March 2010.
Excluding distressed sales, year-over-year prices declined by 0.5 percent in April 2011 compared to April 2010 and by 1.6* percent in March 2011 compared to March 2010. Distressed sales include short sales and real estate owned (REO) transactions.
“While the economic recovery is still fragile and one data point is not a trend, the month-over-month increase based on April sales activity is a positive sign. This is the first month-over-month increase in the HPI since government support for home buying was removed, and it provides reason for cautious optimism,” said Mark Fleming, chief economist for CoreLogic, a leading provider of information, analytics and business services, today released its which shows that home prices in the U.S.
Including distressed sales, the five states with the highest appreciation were: North Dakota (+4.2 percent), Vermont (+3.4 percent), New York (+3.2 percent), The District of Columbia (+2.2 percent) and Mississippi (+1.4 percent). Including distressed sales, the five states with the greatest depreciation were: Idaho (-15.2 percent), Michigan (-13.2 percent), Arizona (-11.9 percent), Rhode Island (-11.6 percent) and Nevada (-11.4 percent).
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