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CoreLogic HPI: Seven Straight Months of Price Declines
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You're Now Reading:
CoreLogic HPI: Seven Straight Months of Price Declines
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
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CoreLogic HPI: Seven Straight Months of Price Declines
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April 8, 2011 (Jeff Alan)
mortgage-fallingprices-image
CoreLogic released its February Home Price Index (HPI) which shows U.S. home prices declining for the seventh month in a row in year over year comparisons. Prices in February 2011 were 6.7 percent lower than February 2010 with most of the pricing declines coming as a result of distressed transactions.

The HPI reports that the year over year price decline for February was only 0.1 percent when excluding distressed transactions. The same pattern was observed in January of 2011 as prices declined 5.5 percent* compared to January 2010, but the price decline was 1.4 percent* when distressed transactions were excluded.

Distressed transactions include short sales and real estate owned (REO) transactions.

According to CoreLogic chief economist Mark Fleming, although overall prices have continued to decline, excluding distressed transactions, home prices are showing signs of stability.

“When you remove distressed properties from the equation, we’re seeing a significantly reduced pace of depreciation and greater stability in many markets. Price declines are increasingly isolated to the distressed segment of the market, mostly in the form of REO sales, as the stock of foreclosures is slowly cleared.” he said.

The five states with the highest price appreciation including distressed sales were West Virginia (+5.4 percent), New York (+4.7 percent), North Dakota (+4.1 percent), Maine (+3.6 percent) and Alaska (+1.2 percent).

The five states with the greatest price depreciation including distressed sales were Idaho (-14.6 percent), Arizona (-12.0 percent), Florida (-11.2 percent), Michigan (-11.1 percent) and Illinois (-11.1 percent).

The five states with the highest price appreciation excluding distressed sales were West Virginia (+8.2 percent), New York (+5.7 percent), South Carolina (+5.4 percent), Hawaii (+5.0 percent), and District of Columbia (+4.5 percent).

The five states with the greatest price depreciation excluding distressed sales were Idaho (-9.3 percent), Montana (-8.6 percent), Maine (-6.2 percent), Arizona (-5.4 percent) and Rhode Island (-5.4 percent).

The peak-to-current change in the national HPI (from April 2006 to February 2011) including distressed sales was -34.5 percent compared to -21.7 percent when distressed sales are excluded.

Eighty six of the top 100 Core Based Statistical areas (CBSAs) are showing year-over-year price declines in February, which was an improvement from 88 in January.

*January 2010 data, including distressed sales, was revised from a decline of -5.7 percent to a decline of -5.5 percent.

CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services. You can get a full copy of the Home Price Index here.

Tags: CoreLogic, home price index, HPI, U.S. home prices, distressed properties, distressed sales, depreciation, appreciation, foreclosures, short sales,REO properties

Sources:
CoreLogic

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April 8, 2011 (Jeff Alan)
mortgage-fallingprices-image
CoreLogic released its February Home Price Index (HPI) which shows U.S. home prices declining for the seventh month in a row in year over year comparisons. Prices in February 2011 were 6.7 percent lower than February 2010 with most of the pricing declines coming as a result of distressed transactions.

The HPI reports that the year over year price decline for February was only 0.1 percent when excluding distressed transactions. The same pattern was observed in January of 2011 as prices declined 5.5 percent* compared to January 2010, but the price decline was 1.4 percent* when distressed transactions were excluded.

Distressed transactions include short sales and real estate owned (REO) transactions.

According to CoreLogic chief economist Mark Fleming, although overall prices have continued to decline, excluding distressed transactions, home prices are showing signs of stability.

“When you remove distressed properties from the equation, we’re seeing a significantly reduced pace of depreciation and greater stability in many markets. Price declines are increasingly isolated to the distressed segment of the market, mostly in the form of REO sales, as the stock of foreclosures is slowly cleared.” he said.

The five states with the highest price appreciation including distressed sales were West Virginia (+5.4 percent), New York (+4.7 percent), North Dakota (+4.1 percent), Maine (+3.6 percent) and Alaska (+1.2 percent).

The five states with the greatest price depreciation including distressed sales were Idaho (-14.6 percent), Arizona (-12.0 percent), Florida (-11.2 percent), Michigan (-11.1 percent) and Illinois (-11.1 percent).

The five states with the highest price appreciation excluding distressed sales were West Virginia (+8.2 percent), New York (+5.7 percent), South Carolina (+5.4 percent), Hawaii (+5.0 percent), and District of Columbia (+4.5 percent).

The five states with the greatest price depreciation excluding distressed sales were Idaho (-9.3 percent), Montana (-8.6 percent), Maine (-6.2 percent), Arizona (-5.4 percent) and Rhode Island (-5.4 percent).

The peak-to-current change in the national HPI (from April 2006 to February 2011) including distressed sales was -34.5 percent compared to -21.7 percent when distressed sales are excluded.

Eighty six of the top 100 Core Based Statistical areas (CBSAs) are showing year-over-year price declines in February, which was an improvement from 88 in January.

*January 2010 data, including distressed sales, was revised from a decline of -5.7 percent to a decline of -5.5 percent.

CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services. You can get a full copy of the Home Price Index here.

Tags: CoreLogic, home price index, HPI, U.S. home prices, distressed properties, distressed sales, depreciation, appreciation, foreclosures, short sales,REO properties

Sources:
CoreLogic

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

April 8, 2011 (Jeff Alan)
mortgage-fallingprices-image
CoreLogic released its February Home Price Index (HPI) which shows U.S. home prices declining for the seventh month in a row in year over year comparisons. Prices in February 2011 were 6.7 percent lower than February 2010 with most of the pricing declines coming as a result of distressed transactions.

The HPI reports that the year over year price decline for February was only 0.1 percent when excluding distressed transactions. The same pattern was observed in January of 2011 as prices declined 5.5 percent* compared to January 2010, but the price decline was 1.4 percent* when distressed transactions were excluded.

Distressed transactions include short sales and real estate owned (REO) transactions.

According to CoreLogic chief economist Mark Fleming, although overall prices have continued to decline, excluding distressed transactions, home prices are showing signs of stability.

“When you remove distressed properties from the equation, we’re seeing a significantly reduced pace of depreciation and greater stability in many markets. Price declines are increasingly isolated to the distressed segment of the market, mostly in the form of REO sales, as the stock of foreclosures is slowly cleared.” he said.

The five states with the highest price appreciation including distressed sales were West Virginia (+5.4 percent), New York (+4.7 percent), North Dakota (+4.1 percent), Maine (+3.6 percent) and Alaska (+1.2 percent).

The five states with the greatest price depreciation including distressed sales were Idaho (-14.6 percent), Arizona (-12.0 percent), Florida (-11.2 percent), Michigan (-11.1 percent) and Illinois (-11.1 percent).

The five states with the highest price appreciation excluding distressed sales were West Virginia (+8.2 percent), New York (+5.7 percent), South Carolina (+5.4 percent), Hawaii (+5.0 percent), and District of Columbia (+4.5 percent).

The five states with the greatest price depreciation excluding distressed sales were Idaho (-9.3 percent), Montana (-8.6 percent), Maine (-6.2 percent), Arizona (-5.4 percent) and Rhode Island (-5.4 percent).

The peak-to-current change in the national HPI (from April 2006 to February 2011) including distressed sales was -34.5 percent compared to -21.7 percent when distressed sales are excluded.

Eighty six of the top 100 Core Based Statistical areas (CBSAs) are showing year-over-year price declines in February, which was an improvement from 88 in January.

*January 2010 data, including distressed sales, was revised from a decline of -5.7 percent to a decline of -5.5 percent.

CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services. You can get a full copy of the Home Price Index here.

Tags: CoreLogic, home price index, HPI, U.S. home prices, distressed properties, distressed sales, depreciation, appreciation, foreclosures, short sales,REO properties

Sources:
CoreLogic

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.