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Home Prices Fall for Third Month with Flat Growth Expected Through 2013
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You're Now Reading:
Home Prices Fall for Third Month with Flat Growth Expected Through 2013
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 Fall for Third Month with Flat Growth Expected Through 2013
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December 7, 2011 (Chris Moore)

Weak housing demand took its toll on housing prices in October as monthly national home prices fell for the third consecutive month, declining 1.3 percent in October according to CoreLogic’s October Home Price Index (HPI). The Index expects flat growth due to supply and demand imbalances through 2013.

Home prices in October were 3.9 percent lower than in October of last year and it was the first monthly increase in year-over-year prices since April. This follows a revised decline in annual home prices of 3.8 percent in September which had been part of a six month streak in which year-over-year home prices declined in each in successive month

In August, the year-over-year price difference was -4.4 percent, in July it was -4.8 percent, in June it was -6.0 percent, in May it was -7.4 percent and in April the annual price difference was -7.5 percent.

Distressed property sales continue to have a significant impact on housing prices as the difference in year-over-year prices in October would have only been 0.5 percent lower if distressed property sales were excluded.

Since the market peak in April 2006, home prices have declined 32.0 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 22.4 percent since the market peak.

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

“Home prices continue to decline in response to the weak demand for housing. While many housing statistics are basically moving sideways, prices continue to correct for a supply and demand imbalance. Looking forward, our forecasts indicate flat growth through 2013,” said Mark Fleming, chief economist for CoreLogic.

Seventy-eight out of the top 100 Core Based Statistical Areas (CBSAs) experienced year-over-year price declines in October, which was two less than the revised amount reported in September.

The five states with the highest year-over-year (YOY) appreciation including distressed sales were: West Virginia (+4.8 percent), South Dakota (+3.1 percent), New York (+3.0 percent), District of Columbia (+2.4 percent) and Alaska (+2.1 percent). In September, those states were: West Virginia (+7.0 percent), Wyoming (+3.8 percent), South Dakota (+3.6 percent), Maine (+3.5 percent), and North Dakota (+3.1 percent).

The five states with the greatest YOY depreciation including distressed sales were: Nevada (-12.1 percent), Illinois (-9.4 percent), Arizona (-8.1 percent), Minnesota (-7.9 percent) and Georgia (-7.3 percent). In September, those states were Nevada (-12.4 percent), Illinois (-9.2 percent), Arizona (-9.0 percent), Minnesota (-8.3 percent), and Georgia (-7.2 percent).

The five states with the highest YOY appreciation excluding distressed sales were: South Carolina (+4.6 percent), Maine (+3.1 percent), New York (+3.1 percent), Alaska (+2.9 percent) and Kansas (+2.8 percent). In September, those states were: West Virginia (+13.2 percent), Maine (+5.8 percent), Wyoming (+4.8 percent), Montana (+4.4 percent), and Kansas (+3.9 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Nevada (-8.8 percent), Arizona (-7.0 percent), Minnesota (-5.7 percent), Delaware (-3.9 percent) and Georgia (-3.6 percent). In September, those states were: Nevada (-9.6 percent), Arizona (-7.7 percent), Minnesota (-5.9 percent), Michigan (-4.8 percent), and Delaware (-3.7 percent).

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

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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Rates

December 7, 2011 (Chris Moore)

Weak housing demand took its toll on housing prices in October as monthly national home prices fell for the third consecutive month, declining 1.3 percent in October according to CoreLogic’s October Home Price Index (HPI). The Index expects flat growth due to supply and demand imbalances through 2013.

Home prices in October were 3.9 percent lower than in October of last year and it was the first monthly increase in year-over-year prices since April. This follows a revised decline in annual home prices of 3.8 percent in September which had been part of a six month streak in which year-over-year home prices declined in each in successive month

In August, the year-over-year price difference was -4.4 percent, in July it was -4.8 percent, in June it was -6.0 percent, in May it was -7.4 percent and in April the annual price difference was -7.5 percent.

Distressed property sales continue to have a significant impact on housing prices as the difference in year-over-year prices in October would have only been 0.5 percent lower if distressed property sales were excluded.

Since the market peak in April 2006, home prices have declined 32.0 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 22.4 percent since the market peak.

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

“Home prices continue to decline in response to the weak demand for housing. While many housing statistics are basically moving sideways, prices continue to correct for a supply and demand imbalance. Looking forward, our forecasts indicate flat growth through 2013,” said Mark Fleming, chief economist for CoreLogic.

Seventy-eight out of the top 100 Core Based Statistical Areas (CBSAs) experienced year-over-year price declines in October, which was two less than the revised amount reported in September.

The five states with the highest year-over-year (YOY) appreciation including distressed sales were: West Virginia (+4.8 percent), South Dakota (+3.1 percent), New York (+3.0 percent), District of Columbia (+2.4 percent) and Alaska (+2.1 percent). In September, those states were: West Virginia (+7.0 percent), Wyoming (+3.8 percent), South Dakota (+3.6 percent), Maine (+3.5 percent), and North Dakota (+3.1 percent).

The five states with the greatest YOY depreciation including distressed sales were: Nevada (-12.1 percent), Illinois (-9.4 percent), Arizona (-8.1 percent), Minnesota (-7.9 percent) and Georgia (-7.3 percent). In September, those states were Nevada (-12.4 percent), Illinois (-9.2 percent), Arizona (-9.0 percent), Minnesota (-8.3 percent), and Georgia (-7.2 percent).

The five states with the highest YOY appreciation excluding distressed sales were: South Carolina (+4.6 percent), Maine (+3.1 percent), New York (+3.1 percent), Alaska (+2.9 percent) and Kansas (+2.8 percent). In September, those states were: West Virginia (+13.2 percent), Maine (+5.8 percent), Wyoming (+4.8 percent), Montana (+4.4 percent), and Kansas (+3.9 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Nevada (-8.8 percent), Arizona (-7.0 percent), Minnesota (-5.7 percent), Delaware (-3.9 percent) and Georgia (-3.6 percent). In September, those states were: Nevada (-9.6 percent), Arizona (-7.7 percent), Minnesota (-5.9 percent), Michigan (-4.8 percent), and Delaware (-3.7 percent).

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

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
MORTGAGELOANRATEUPDATE
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 MortgageLoanRateUpdate. 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
MORTGAGELOANRATEUPDATE
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.

December 7, 2011 (Chris Moore)

Weak housing demand took its toll on housing prices in October as monthly national home prices fell for the third consecutive month, declining 1.3 percent in October according to CoreLogic’s October Home Price Index (HPI). The Index expects flat growth due to supply and demand imbalances through 2013.

Home prices in October were 3.9 percent lower than in October of last year and it was the first monthly increase in year-over-year prices since April. This follows a revised decline in annual home prices of 3.8 percent in September which had been part of a six month streak in which year-over-year home prices declined in each in successive month

In August, the year-over-year price difference was -4.4 percent, in July it was -4.8 percent, in June it was -6.0 percent, in May it was -7.4 percent and in April the annual price difference was -7.5 percent.

Distressed property sales continue to have a significant impact on housing prices as the difference in year-over-year prices in October would have only been 0.5 percent lower if distressed property sales were excluded.

Since the market peak in April 2006, home prices have declined 32.0 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 22.4 percent since the market peak.

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

“Home prices continue to decline in response to the weak demand for housing. While many housing statistics are basically moving sideways, prices continue to correct for a supply and demand imbalance. Looking forward, our forecasts indicate flat growth through 2013,” said Mark Fleming, chief economist for CoreLogic.

Seventy-eight out of the top 100 Core Based Statistical Areas (CBSAs) experienced year-over-year price declines in October, which was two less than the revised amount reported in September.

The five states with the highest year-over-year (YOY) appreciation including distressed sales were: West Virginia (+4.8 percent), South Dakota (+3.1 percent), New York (+3.0 percent), District of Columbia (+2.4 percent) and Alaska (+2.1 percent). In September, those states were: West Virginia (+7.0 percent), Wyoming (+3.8 percent), South Dakota (+3.6 percent), Maine (+3.5 percent), and North Dakota (+3.1 percent).

The five states with the greatest YOY depreciation including distressed sales were: Nevada (-12.1 percent), Illinois (-9.4 percent), Arizona (-8.1 percent), Minnesota (-7.9 percent) and Georgia (-7.3 percent). In September, those states were Nevada (-12.4 percent), Illinois (-9.2 percent), Arizona (-9.0 percent), Minnesota (-8.3 percent), and Georgia (-7.2 percent).

The five states with the highest YOY appreciation excluding distressed sales were: South Carolina (+4.6 percent), Maine (+3.1 percent), New York (+3.1 percent), Alaska (+2.9 percent) and Kansas (+2.8 percent). In September, those states were: West Virginia (+13.2 percent), Maine (+5.8 percent), Wyoming (+4.8 percent), Montana (+4.4 percent), and Kansas (+3.9 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Nevada (-8.8 percent), Arizona (-7.0 percent), Minnesota (-5.7 percent), Delaware (-3.9 percent) and Georgia (-3.6 percent). In September, those states were: Nevada (-9.6 percent), Arizona (-7.7 percent), Minnesota (-5.9 percent), Michigan (-4.8 percent), and Delaware (-3.7 percent).

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

Sources:
CoreLogic

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
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 MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
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.