 March 7, 2012 Home Prices Fall
March 14, 2012
Home Prices Fall for Sixth Straight Month
National home prices, including those for distressed sales, fell 3.1 percent in January compared to a year ago and they were down 1.0 percent compared to December 2011 for the sixth consecutive monthly decline, according to CoreLogic’s latest Home Price Index. Excluding distressed sales, home prices slipped 0.9 percent in January from the previous year, but rose 0.7 percent from December.
Mark Fleming, chief economist of CoreLogic, says home prices are close to hitting bottom. “Although home price declines are slowly improving and not far from the bottom, home prices are down to nearly the same levels as 10 years ago,” Fleming says.
Including distressed sales, the states with the greatest depreciation in home prices were Illinois, Nevada, Delaware, Alabama and Georgia. Meanwhile, the states will the highest appreciation were South Dakota, North Dakota, West Virginia, Montana and Michigan.
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