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Nevada Home Prices Down 60 Percent Since Market Peak
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You're Now Reading:
Nevada Home Prices Down 60 Percent Since Market Peak
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.
You're Now Reading:
Nevada Home Prices Down 60 Percent Since Market Peak
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February 3, 2012 (Chris Moore)

Home prices in the state of Nevada, including distressed property sales, have fallen 60 percent since the housing market peaked in April of 2006 according to CoreLogic’s December Home Price Index (HPI), the largest decline in home prices of any state in the country.

But Nevada wasn’t the biggest loser in 2011, that distinction belonged to Illinois which saw home prices drop 11.2 percent in the last year. Nevada was second with a price decline of 10.6 percent when including distressed property sales.

Other states that have posted large declines in home prices since the market peaked in 2006 were Arizona (-51.9%), Florida
(-50%), Michigan (-43.7%) and California (-43.5%).

Monthly home prices fell for the fifth consecutive month, declining 1.4 percent from the previous month when including distressed property sales. However, excluding distressed properties, home prices would have increased 0.2 percent, the first time that has happened since July of 2011.

Including distressed property sales, home prices in December were 4.7 percent lower than in December of last year. Excluding distressed properties, home prices would have been only 0.9 percent lower than the previous year. This is the fifth consecutive year that home prices have declined.

Since the market peak in April 2006, home prices have declined 33.7 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 24.0 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, “While overall prices declined by almost 5 percent in 2011, non-distressed prices showed only a small decrease. Until distressed sales in the market recede, we will see continued downward pressure on prices.”

Eighty-one out of the top 100 Core Based Statistical Areas (CBSAs) experienced year-over-year price declines in December, which was one more than the revised amount reported in November.

The five states with the highest year-over-year (YOY) appreciation including distressed sales were: Montana (+4.4 percent), Vermont (+4.0 percent), South Dakota (+3.1 percent), Nebraska (+2.5 percent) and New York (+1.7 percent). In November, those states were: Vermont (+4.3 percent), South Carolina (+2.8 percent), District of Columbia (+2.1 percent), Nebraska (+1.9 percent) and New York (+1.7 percent).

The five states with the greatest YOY depreciation including distressed sales were: Illinois (-11.3 percent), Nevada (-10.6 percent), Georgia (-8.3 percent), Ohio (-7.7 percent), and Minnesota (-7.5 percent). In November, those states were: Nevada (-11.2 percent), Illinois (-9.7 percent), Minnesota (-7.8 percent), Georgia (-7.7 percent) and Ohio (-7.2 percent).

The five states with the highest YOY appreciation excluding distressed sales were: Montana (+7.7 percent), South Dakota (+3.5 percent), Indiana (+3.3 percent), Alaska (+3.1 percent), and Massachusetts (+2.9 percent). In November, those states were: Maine (+4.9 percent), South Carolina (+4.9 percent), Montana (+3.8 percent), Indiana (+3.3 percent) and Louisiana (+2.4 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Nevada (-9.7 percent), Minnesota (-5.2 percent), Arizona (-4.9 percent), Delaware (-4.2 percent) and Michigan (-3.5 percent). In November, those states were: Nevada (-8.8 percent), Arizona (-4.9 percent), Minnesota (-4.7 percent), Idaho (-4.1 percent) and Georgia (-3.6 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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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.
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February 3, 2012 (Chris Moore)

Home prices in the state of Nevada, including distressed property sales, have fallen 60 percent since the housing market peaked in April of 2006 according to CoreLogic’s December Home Price Index (HPI), the largest decline in home prices of any state in the country.

But Nevada wasn’t the biggest loser in 2011, that distinction belonged to Illinois which saw home prices drop 11.2 percent in the last year. Nevada was second with a price decline of 10.6 percent when including distressed property sales.

Other states that have posted large declines in home prices since the market peaked in 2006 were Arizona (-51.9%), Florida
(-50%), Michigan (-43.7%) and California (-43.5%).

Monthly home prices fell for the fifth consecutive month, declining 1.4 percent from the previous month when including distressed property sales. However, excluding distressed properties, home prices would have increased 0.2 percent, the first time that has happened since July of 2011.

Including distressed property sales, home prices in December were 4.7 percent lower than in December of last year. Excluding distressed properties, home prices would have been only 0.9 percent lower than the previous year. This is the fifth consecutive year that home prices have declined.

Since the market peak in April 2006, home prices have declined 33.7 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 24.0 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, “While overall prices declined by almost 5 percent in 2011, non-distressed prices showed only a small decrease. Until distressed sales in the market recede, we will see continued downward pressure on prices.”

Eighty-one out of the top 100 Core Based Statistical Areas (CBSAs) experienced year-over-year price declines in December, which was one more than the revised amount reported in November.

The five states with the highest year-over-year (YOY) appreciation including distressed sales were: Montana (+4.4 percent), Vermont (+4.0 percent), South Dakota (+3.1 percent), Nebraska (+2.5 percent) and New York (+1.7 percent). In November, those states were: Vermont (+4.3 percent), South Carolina (+2.8 percent), District of Columbia (+2.1 percent), Nebraska (+1.9 percent) and New York (+1.7 percent).

The five states with the greatest YOY depreciation including distressed sales were: Illinois (-11.3 percent), Nevada (-10.6 percent), Georgia (-8.3 percent), Ohio (-7.7 percent), and Minnesota (-7.5 percent). In November, those states were: Nevada (-11.2 percent), Illinois (-9.7 percent), Minnesota (-7.8 percent), Georgia (-7.7 percent) and Ohio (-7.2 percent).

The five states with the highest YOY appreciation excluding distressed sales were: Montana (+7.7 percent), South Dakota (+3.5 percent), Indiana (+3.3 percent), Alaska (+3.1 percent), and Massachusetts (+2.9 percent). In November, those states were: Maine (+4.9 percent), South Carolina (+4.9 percent), Montana (+3.8 percent), Indiana (+3.3 percent) and Louisiana (+2.4 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Nevada (-9.7 percent), Minnesota (-5.2 percent), Arizona (-4.9 percent), Delaware (-4.2 percent) and Michigan (-3.5 percent). In November, those states were: Nevada (-8.8 percent), Arizona (-4.9 percent), Minnesota (-4.7 percent), Idaho (-4.1 percent) and Georgia (-3.6 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
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.

February 3, 2012 (Chris Moore)

Home prices in the state of Nevada, including distressed property sales, have fallen 60 percent since the housing market peaked in April of 2006 according to CoreLogic’s December Home Price Index (HPI), the largest decline in home prices of any state in the country.

But Nevada wasn’t the biggest loser in 2011, that distinction belonged to Illinois which saw home prices drop 11.2 percent in the last year. Nevada was second with a price decline of 10.6 percent when including distressed property sales.

Other states that have posted large declines in home prices since the market peaked in 2006 were Arizona (-51.9%), Florida
(-50%), Michigan (-43.7%) and California (-43.5%).

Monthly home prices fell for the fifth consecutive month, declining 1.4 percent from the previous month when including distressed property sales. However, excluding distressed properties, home prices would have increased 0.2 percent, the first time that has happened since July of 2011.

Including distressed property sales, home prices in December were 4.7 percent lower than in December of last year. Excluding distressed properties, home prices would have been only 0.9 percent lower than the previous year. This is the fifth consecutive year that home prices have declined.

Since the market peak in April 2006, home prices have declined 33.7 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 24.0 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, “While overall prices declined by almost 5 percent in 2011, non-distressed prices showed only a small decrease. Until distressed sales in the market recede, we will see continued downward pressure on prices.”

Eighty-one out of the top 100 Core Based Statistical Areas (CBSAs) experienced year-over-year price declines in December, which was one more than the revised amount reported in November.

The five states with the highest year-over-year (YOY) appreciation including distressed sales were: Montana (+4.4 percent), Vermont (+4.0 percent), South Dakota (+3.1 percent), Nebraska (+2.5 percent) and New York (+1.7 percent). In November, those states were: Vermont (+4.3 percent), South Carolina (+2.8 percent), District of Columbia (+2.1 percent), Nebraska (+1.9 percent) and New York (+1.7 percent).

The five states with the greatest YOY depreciation including distressed sales were: Illinois (-11.3 percent), Nevada (-10.6 percent), Georgia (-8.3 percent), Ohio (-7.7 percent), and Minnesota (-7.5 percent). In November, those states were: Nevada (-11.2 percent), Illinois (-9.7 percent), Minnesota (-7.8 percent), Georgia (-7.7 percent) and Ohio (-7.2 percent).

The five states with the highest YOY appreciation excluding distressed sales were: Montana (+7.7 percent), South Dakota (+3.5 percent), Indiana (+3.3 percent), Alaska (+3.1 percent), and Massachusetts (+2.9 percent). In November, those states were: Maine (+4.9 percent), South Carolina (+4.9 percent), Montana (+3.8 percent), Indiana (+3.3 percent) and Louisiana (+2.4 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Nevada (-9.7 percent), Minnesota (-5.2 percent), Arizona (-4.9 percent), Delaware (-4.2 percent) and Michigan (-3.5 percent). In November, those states were: Nevada (-8.8 percent), Arizona (-4.9 percent), Minnesota (-4.7 percent), Idaho (-4.1 percent) and Georgia (-3.6 percent).

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

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.