CoreLogic (NYSE: CLGX)Shows Home Prices Dropped 1.5%

CoreLogic (NYSE: CLGX)Shows Home Prices Dropped 1.5%

CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its Home Price Index (HPI) which shows that home prices in the U.S. declined for the first time this year. According to the CoreLogic HPI, national home prices, including distressed sales, declined 1.5 percent in August 2010 compared to August 2009 and increased by 0.6 percent* in July 2010 compared to July 2009. Excluding distressed sales, year-over-year prices declined 0.4 percent in August 2010.

Highlights as of August 2010

  • The top five states with the highest appreciation, including distressed sales, were: Maine (+5.8 percent), New York (+3.7 percent), Connecticut (+2.5 percent), Virginia (+2.4 percent), and South Dakota (+2.1 percent).
  • The top five states with the greatest depreciation, including distressed sales, were Idaho (-14.0 percent), Alabama (-10.4 percent), Utah (-7.3 percent), Oregon (-6.3 percent) and Florida (-6.2 percent).
  • Excluding distressed sales, the top five states with the highest appreciation were: New York (+5.0 percent), South Dakota (+4.0 percent), Connecticut (+3.1 percent), North Dakota (+3.0 percent), and Vermont (+2.7 percent).
  • Excluding distressed sales, the top five states with the greatest depreciation were: Idaho (-11.3 percent), Michigan (-7.6 percent), Arizona (-6.5 percent), Nevada (-6.3 percent) and Utah (-4.7 percent).
  • Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to August 2010) is -28.2 percent. Excluding distressed properties, the peak-to-current change in the HPI for the same period is -19.6 percent.

“Price declines are geographically expanding as 78 out of the largest 100 metropolitan areas are experiencing declines, up from 58 just one month ago,” said Mark Fleming, chief economist for CoreLogic.

Full-month August 2010 national, state-level and top CBSA-level data can be found at http://www.corelogic.com/About-Us/ResearchTrends/Home-Price-Index.aspx.

* July 2010 data was revised up from no growth to 0.6 percent. Revisions with public record data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public record data to provide updated results.

About CoreLogic

CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. Formerly the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2 billion.  For more information visit www.corelogic.com

SOURCE CoreLogic

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Filed under: Real Estate

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