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Home Prices Improve for a Third Month Led by Arizona
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You're Now Reading:
Home Prices Improve for a Third Month Led by Arizona
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
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
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Home Prices Improve for a Third Month Led by Arizona
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July 3, 2012 (Chris Moore)

National monthly home prices improved for a third consecutive month in May with seventy-one out of the top one hundred statistical areas reporting year-over-year increases led by a 12 percent increase in Arizona according to CoreLogic’s May Home Price Index (HPI).

Including distressed property sales, home prices in May were 1.8 percent higher than in April and were 2.0 percent higher than in May of last year. It was the third consecutive month that sales have increased from the previous month.

Excluding distressed properties, monthly home prices improved by 2.3 percent and were 2.7 percent higher than in May of last year.

Nevada (-57.7 percent) continued to post the largest decline in home prices since the market peaked in 2006 followed by Florida (-45.6 percent), Arizona (-45.0 percent), Michigan (-40.5 percent) and California (-39.7 percent). That was little changed from last month’s list of worst performing states which included Nevada (-58.9 percent), Arizona (-46.5 percent), Florida (-46.5 percent), Michigan (-43.6 percent) and California (-41.0 percent).

Since the market peak in May 2006, home prices have declined 30.1 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 22.2 percent since the market peak.

CoreLogic defines distressed property sales as short sales and real estate owned (REO) transactions.

Mark Fleming, chief economist for CoreLogic, stated, “Home price appreciation in the lower-priced segment of the market is rebounding more quickly than in the upper end. Home prices below 75 percent of the national median increased 5.7 percent from a year ago, compared to only a 1.8 percent increase for prices 125 percent or more of the median.”

Twenty-nine out of the top 100 Core Based Statistical Areas (CBSAs) experienced year-over-year price declines in May, which was 12 less than the revised amount reported in April.

The five states with the highest year-over-year (YOY) appreciation including distressed sales were: Arizona (+12.0 percent), Idaho (+9.2 percent), South Dakota (+8.7 percent), Montana (+8.2 percent) and Michigan (+7.9 percent). In April, those states were: Arizona (+8.8 percent), District of Columbia (+6.4 percent), Florida (+5.5 percent), Montana (+5.4 percent), and Utah (+5.4 percent).

The five states with the greatest YOY depreciation including distressed sales were: Delaware (-9.0 percent), Rhode Island (-4.4 percent), Illinois (-4.2 percent), Alabama (-4.1 percent) and Georgia (-4.0 percent). In April, those states were: Delaware (-11.9 percent), Illinois (-6.8 percent), Alabama (-6.6 percent), Rhode Island (-6.2 percent), and Georgia (-5.6 percent).

The five states with the highest YOY appreciation excluding distressed sales were: Montana (+9.1 percent), South Dakota (+8.5 percent), Arizona (+7.3 percent), Idaho (+6.6 percent) and Wyoming (+6.6 percent). In April, those states were: Utah (+5.3 percent), Idaho (+5.1 percent), Mississippi (+4.7 percent), Louisiana (+4.6 percent) and Arizona (+4.6 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Delaware (-7.8 percent), Rhode Island (-3.8 percent), Alabama (-2.8 percent), Connecticut (-2.2 percent) and Kentucky (-1.2 percent). In April, those states were: Delaware (-10.1 percent), Rhode Island (-6.2 percent), Alabama (-4.4 percent), Vermont (-2.8 percent) and Connecticut (-2.3 percent).

Tags: CoreLogic, home prices, distressed property sales, appreciation, depreciation

Sources:
CoreLogic

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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.
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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.
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Calculator
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Rates

July 3, 2012 (Chris Moore)

National monthly home prices improved for a third consecutive month in May with seventy-one out of the top one hundred statistical areas reporting year-over-year increases led by a 12 percent increase in Arizona according to CoreLogic’s May Home Price Index (HPI).

Including distressed property sales, home prices in May were 1.8 percent higher than in April and were 2.0 percent higher than in May of last year. It was the third consecutive month that sales have increased from the previous month.

Excluding distressed properties, monthly home prices improved by 2.3 percent and were 2.7 percent higher than in May of last year.

Nevada (-57.7 percent) continued to post the largest decline in home prices since the market peaked in 2006 followed by Florida (-45.6 percent), Arizona (-45.0 percent), Michigan (-40.5 percent) and California (-39.7 percent). That was little changed from last month’s list of worst performing states which included Nevada (-58.9 percent), Arizona (-46.5 percent), Florida (-46.5 percent), Michigan (-43.6 percent) and California (-41.0 percent).

Since the market peak in May 2006, home prices have declined 30.1 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 22.2 percent since the market peak.

CoreLogic defines distressed property sales as short sales and real estate owned (REO) transactions.

Mark Fleming, chief economist for CoreLogic, stated, “Home price appreciation in the lower-priced segment of the market is rebounding more quickly than in the upper end. Home prices below 75 percent of the national median increased 5.7 percent from a year ago, compared to only a 1.8 percent increase for prices 125 percent or more of the median.”

Twenty-nine out of the top 100 Core Based Statistical Areas (CBSAs) experienced year-over-year price declines in May, which was 12 less than the revised amount reported in April.

The five states with the highest year-over-year (YOY) appreciation including distressed sales were: Arizona (+12.0 percent), Idaho (+9.2 percent), South Dakota (+8.7 percent), Montana (+8.2 percent) and Michigan (+7.9 percent). In April, those states were: Arizona (+8.8 percent), District of Columbia (+6.4 percent), Florida (+5.5 percent), Montana (+5.4 percent), and Utah (+5.4 percent).

The five states with the greatest YOY depreciation including distressed sales were: Delaware (-9.0 percent), Rhode Island (-4.4 percent), Illinois (-4.2 percent), Alabama (-4.1 percent) and Georgia (-4.0 percent). In April, those states were: Delaware (-11.9 percent), Illinois (-6.8 percent), Alabama (-6.6 percent), Rhode Island (-6.2 percent), and Georgia (-5.6 percent).

The five states with the highest YOY appreciation excluding distressed sales were: Montana (+9.1 percent), South Dakota (+8.5 percent), Arizona (+7.3 percent), Idaho (+6.6 percent) and Wyoming (+6.6 percent). In April, those states were: Utah (+5.3 percent), Idaho (+5.1 percent), Mississippi (+4.7 percent), Louisiana (+4.6 percent) and Arizona (+4.6 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Delaware (-7.8 percent), Rhode Island (-3.8 percent), Alabama (-2.8 percent), Connecticut (-2.2 percent) and Kentucky (-1.2 percent). In April, those states were: Delaware (-10.1 percent), Rhode Island (-6.2 percent), Alabama (-4.4 percent), Vermont (-2.8 percent) and Connecticut (-2.3 percent).

Tags: CoreLogic, home prices, distressed property sales, appreciation, depreciation

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.

July 3, 2012 (Chris Moore)

National monthly home prices improved for a third consecutive month in May with seventy-one out of the top one hundred statistical areas reporting year-over-year increases led by a 12 percent increase in Arizona according to CoreLogic’s May Home Price Index (HPI).

Including distressed property sales, home prices in May were 1.8 percent higher than in April and were 2.0 percent higher than in May of last year. It was the third consecutive month that sales have increased from the previous month.

Excluding distressed properties, monthly home prices improved by 2.3 percent and were 2.7 percent higher than in May of last year.

Nevada (-57.7 percent) continued to post the largest decline in home prices since the market peaked in 2006 followed by Florida (-45.6 percent), Arizona (-45.0 percent), Michigan (-40.5 percent) and California (-39.7 percent). That was little changed from last month’s list of worst performing states which included Nevada (-58.9 percent), Arizona (-46.5 percent), Florida (-46.5 percent), Michigan (-43.6 percent) and California (-41.0 percent).

Since the market peak in May 2006, home prices have declined 30.1 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 22.2 percent since the market peak.

CoreLogic defines distressed property sales as short sales and real estate owned (REO) transactions.

Mark Fleming, chief economist for CoreLogic, stated, “Home price appreciation in the lower-priced segment of the market is rebounding more quickly than in the upper end. Home prices below 75 percent of the national median increased 5.7 percent from a year ago, compared to only a 1.8 percent increase for prices 125 percent or more of the median.”

Twenty-nine out of the top 100 Core Based Statistical Areas (CBSAs) experienced year-over-year price declines in May, which was 12 less than the revised amount reported in April.

The five states with the highest year-over-year (YOY) appreciation including distressed sales were: Arizona (+12.0 percent), Idaho (+9.2 percent), South Dakota (+8.7 percent), Montana (+8.2 percent) and Michigan (+7.9 percent). In April, those states were: Arizona (+8.8 percent), District of Columbia (+6.4 percent), Florida (+5.5 percent), Montana (+5.4 percent), and Utah (+5.4 percent).

The five states with the greatest YOY depreciation including distressed sales were: Delaware (-9.0 percent), Rhode Island (-4.4 percent), Illinois (-4.2 percent), Alabama (-4.1 percent) and Georgia (-4.0 percent). In April, those states were: Delaware (-11.9 percent), Illinois (-6.8 percent), Alabama (-6.6 percent), Rhode Island (-6.2 percent), and Georgia (-5.6 percent).

The five states with the highest YOY appreciation excluding distressed sales were: Montana (+9.1 percent), South Dakota (+8.5 percent), Arizona (+7.3 percent), Idaho (+6.6 percent) and Wyoming (+6.6 percent). In April, those states were: Utah (+5.3 percent), Idaho (+5.1 percent), Mississippi (+4.7 percent), Louisiana (+4.6 percent) and Arizona (+4.6 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Delaware (-7.8 percent), Rhode Island (-3.8 percent), Alabama (-2.8 percent), Connecticut (-2.2 percent) and Kentucky (-1.2 percent). In April, those states were: Delaware (-10.1 percent), Rhode Island (-6.2 percent), Alabama (-4.4 percent), Vermont (-2.8 percent) and Connecticut (-2.3 percent).

Tags: CoreLogic, home prices, distressed property sales, appreciation, depreciation

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.