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Non-Distressed Property Prices 30 Pct Less than Distressed Since Market Peak
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You're Now Reading:
Non-Distressed Property Prices 30 Pct Less than Distressed 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:
Non-Distressed Property Prices 30 Pct Less than Distressed Since Market Peak
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January 13, 2012 (Chris Moore)

Home prices continued to follow normal seasonal trends in November, falling another 1.4 percent from the previous month according to CoreLogic’s November Home Price Index (HPI). November’s price decline follows a 1.3 percent decline in October and is the fourth consecutive month that home prices have fallen.

Including distressed property sales, home prices in November were 4.3 percent lower than in November of last year. It was the first monthly increase in year-over-year prices since April. This follows a revised decline in annual home prices of 3.7 percent in October which had been part of a seven month streak in which year-over-year home prices declined in each successive month.

In September, the year-over-year price difference, including distressed properties, was -3.8 percent, in August it 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.

The impact that distressed property sales have had on housing prices since the beginning of the housing crisis has been significant. In November, the difference in year-over-year prices would have only been 0.6 percent lower if distressed property sales were excluded.

Since the market peak in April 2006, home prices have declined 32.8 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 23.1 percent since the market peak, a difference of 29.5 percent.

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

Mark Fleming, chief economist for CoreLogic, stated, “With one month of data left to report, it appears that the healthy, non-distressed market will be very modestly down in 2011. Distressed sales continue to put downward pressure on prices, and is a factor that must be addressed in 2012 for a housing recovery to become a reality.”

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

The five states with the highest year-over-year (YOY) appreciation including distressed sales 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). In October, those states 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).

The five states with the greatest YOY depreciation including distressed sales were: Nevada (-11.2 percent), Illinois (-9.7 percent), Minnesota (-7.8 percent), Georgia (-7.7 percent) and Ohio (-7.2 percent). In October, those states were Nevada (-12.1 percent), Illinois (-9.4 percent), Arizona (-8.1 percent), Minnesota (-7.9 percent) and Georgia (-7.3 percent).

The five states with the highest YOY appreciation excluding distressed sales were: Maine (+4.9 percent), South Carolina (+4.9 percent), Montana (+3.8 percent), Indiana (+3.3 percent) and Louisiana (+2.4 percent). In October, those states were: South Carolina (+4.6 percent), Maine (+3.1 percent), New York (+3.1 percent), Alaska (+2.9 percent) and Kansas (+2.8 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Nevada (-8.8 percent), Arizona (-4.9 percent), Minnesota (-4.7 percent), Idaho (-4.1 percent) and Georgia (-3.6 percent). In October, those states were: Nevada (-8.8 percent), Arizona (-7.0 percent), Minnesota (-5.7 percent), Delaware (-3.9 percent) and Georgia (-3.6 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 MortgageLoanRateUpdate 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.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
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Rates

January 13, 2012 (Chris Moore)

Home prices continued to follow normal seasonal trends in November, falling another 1.4 percent from the previous month according to CoreLogic’s November Home Price Index (HPI). November’s price decline follows a 1.3 percent decline in October and is the fourth consecutive month that home prices have fallen.

Including distressed property sales, home prices in November were 4.3 percent lower than in November of last year. It was the first monthly increase in year-over-year prices since April. This follows a revised decline in annual home prices of 3.7 percent in October which had been part of a seven month streak in which year-over-year home prices declined in each successive month.

In September, the year-over-year price difference, including distressed properties, was -3.8 percent, in August it 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.

The impact that distressed property sales have had on housing prices since the beginning of the housing crisis has been significant. In November, the difference in year-over-year prices would have only been 0.6 percent lower if distressed property sales were excluded.

Since the market peak in April 2006, home prices have declined 32.8 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 23.1 percent since the market peak, a difference of 29.5 percent.

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

Mark Fleming, chief economist for CoreLogic, stated, “With one month of data left to report, it appears that the healthy, non-distressed market will be very modestly down in 2011. Distressed sales continue to put downward pressure on prices, and is a factor that must be addressed in 2012 for a housing recovery to become a reality.”

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

The five states with the highest year-over-year (YOY) appreciation including distressed sales 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). In October, those states 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).

The five states with the greatest YOY depreciation including distressed sales were: Nevada (-11.2 percent), Illinois (-9.7 percent), Minnesota (-7.8 percent), Georgia (-7.7 percent) and Ohio (-7.2 percent). In October, those states were Nevada (-12.1 percent), Illinois (-9.4 percent), Arizona (-8.1 percent), Minnesota (-7.9 percent) and Georgia (-7.3 percent).

The five states with the highest YOY appreciation excluding distressed sales were: Maine (+4.9 percent), South Carolina (+4.9 percent), Montana (+3.8 percent), Indiana (+3.3 percent) and Louisiana (+2.4 percent). In October, those states were: South Carolina (+4.6 percent), Maine (+3.1 percent), New York (+3.1 percent), Alaska (+2.9 percent) and Kansas (+2.8 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Nevada (-8.8 percent), Arizona (-4.9 percent), Minnesota (-4.7 percent), Idaho (-4.1 percent) and Georgia (-3.6 percent). In October, those states were: Nevada (-8.8 percent), Arizona (-7.0 percent), Minnesota (-5.7 percent), Delaware (-3.9 percent) and Georgia (-3.6 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.

January 13, 2012 (Chris Moore)

Home prices continued to follow normal seasonal trends in November, falling another 1.4 percent from the previous month according to CoreLogic’s November Home Price Index (HPI). November’s price decline follows a 1.3 percent decline in October and is the fourth consecutive month that home prices have fallen.

Including distressed property sales, home prices in November were 4.3 percent lower than in November of last year. It was the first monthly increase in year-over-year prices since April. This follows a revised decline in annual home prices of 3.7 percent in October which had been part of a seven month streak in which year-over-year home prices declined in each successive month.

In September, the year-over-year price difference, including distressed properties, was -3.8 percent, in August it 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.

The impact that distressed property sales have had on housing prices since the beginning of the housing crisis has been significant. In November, the difference in year-over-year prices would have only been 0.6 percent lower if distressed property sales were excluded.

Since the market peak in April 2006, home prices have declined 32.8 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 23.1 percent since the market peak, a difference of 29.5 percent.

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

Mark Fleming, chief economist for CoreLogic, stated, “With one month of data left to report, it appears that the healthy, non-distressed market will be very modestly down in 2011. Distressed sales continue to put downward pressure on prices, and is a factor that must be addressed in 2012 for a housing recovery to become a reality.”

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

The five states with the highest year-over-year (YOY) appreciation including distressed sales 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). In October, those states 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).

The five states with the greatest YOY depreciation including distressed sales were: Nevada (-11.2 percent), Illinois (-9.7 percent), Minnesota (-7.8 percent), Georgia (-7.7 percent) and Ohio (-7.2 percent). In October, those states were Nevada (-12.1 percent), Illinois (-9.4 percent), Arizona (-8.1 percent), Minnesota (-7.9 percent) and Georgia (-7.3 percent).

The five states with the highest YOY appreciation excluding distressed sales were: Maine (+4.9 percent), South Carolina (+4.9 percent), Montana (+3.8 percent), Indiana (+3.3 percent) and Louisiana (+2.4 percent). In October, those states were: South Carolina (+4.6 percent), Maine (+3.1 percent), New York (+3.1 percent), Alaska (+2.9 percent) and Kansas (+2.8 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Nevada (-8.8 percent), Arizona (-4.9 percent), Minnesota (-4.7 percent), Idaho (-4.1 percent) and Georgia (-3.6 percent). In October, those states were: Nevada (-8.8 percent), Arizona (-7.0 percent), Minnesota (-5.7 percent), Delaware (-3.9 percent) and Georgia (-3.6 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.