Home Prices Continue to Fall - Exclude Distressed Sales and Kansas Homes are Appreciating

Home Prices Continue to Fall - Exclude Distressed Sales and Kansas Homes are Appreciating

According to the CoreLogic Home Price Index (HPI), national home
prices, including distressed sales, also declined by 3.9% on a
year-over-year basis in October 2011 compared to October 2010. 
This follows a decline of 3.8% in September 2011 compared to
September 2010.  Excluding distressed sales, year-over-year
prices declined by 0.5% in October 2011 compared to October 2010
and by 2.1% in September 2011 compared to September 2010. 
Distressed sales include short sales and real estate owned (REO)
transactions.      

Highlights as of October 2011
-  Including distressed sales, the five states with the highest
appreciation were:  West Virginia (+4.8%), South Dakota (+3.1%),
New York (+3.0%), District of Columbia (+2.4%) and Alaska
(+2.1%).

-  Including distressed sales, the five states with the greatest
depreciation were: Nevada (-12.1%), Illinois (-9.4%), Arizona
(-8.1%), Minnesota (-7.9%) and Georgia (-7.3%).

-  Excluding distressed sales, the five states with the highest
appreciation were: South Carolina (+4.6%), Maine (+3.1%), New
York (+3.1%), Alaska (+2.9%) and Kansas (+2.8%).

-  Excluding distressed sales, the five states with the greatest
depreciation were: Nevada (-8.8%), Arizona (-7.0%), Minnesota
(-5.7%), Delaware (-3.9%) and Georgia (-3.6%).

-  Including distressed transactions, the peak-to-current change
in the national HPI (from April 2006 to October 2011) was -32.0%.
 Excluding distressed transactions, the peak-to-current change in
the HPI for the same period was -22.4%.

-  Of the top 100 Core Based Statistical Areas (CBSAs) measured
by population, 78 are showing year-over-year declines in October,
two fewer than in September.


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Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

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