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Seasonal Trends Keep Home Prices Higher for Fourth Consecutive Month
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You're Now Reading:
Seasonal Trends Keep Home Prices Higher for Fourth Consecutive Month
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
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Receive Multiple Offers. Save Money.
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Seasonal Trends Keep Home Prices Higher for Fourth Consecutive Month
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August 31, 2011 (Chris Moore)

National monthly home prices increased by a modest 0.8 percent for the second consecutive month in July according to CoreLogic’s July Home Price Index (HPI), but prices were still 5.2 percent lower than a year ago.

July marks the fourth consecutive month in which monthly home prices have seen an increase. Although year-over-year price comparisons continue to see a decline, when excluding distressed sales, the home prices in July were only 0.6 percent lower than those in July of 2010.

Compared to the market peak in April 2006, home prices have declined 30.5 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 20.7 percent since the market peak.

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

“While July’s numbers remained relatively positive, particularly for non-distressed sales which have been stable, seasonal influences are expected to fade in late summer. At that point, the month-over-month growth will most likely turn negative. The slowdown in economic growth and increased uncertainty caused by the recent stock market volatility will continue to exert downward pressure on prices,” said Mark Fleming, chief economist for CoreLogic.

Eighty-six out of the top 100 Core Based Statistical Areas (CBSAs) experienced year over year price declines in July 2011, which was a decrease from 88 reported in June 2011.

The five states with the highest year-over-year (YOY) appreciation including distressed sales were: West Virginia (+14.0 percent), New York (+3.3 percent), Wyoming (+3.2 percent), Mississippi (+2.4 percent), and the District of Columbia (+2.3 percent). In June 2011, those states were: New York (+3.3 percent), the District of Columbia (+2.4 percent), North Dakota (+1.2 percent), Alaska (+0.1 percent) and Nebraska (+0.1 percent).

The five states with the greatest YOY depreciation including distressed sales were: Nevada (-12.2 percent), Arizona (-11.9 percent), Illinois (-10.0 percent) Minnesota (-8.6 percent), and Idaho (-7.8 percent). In June 2011, those states were Nevada (-12.4 percent), Idaho (-12.3 percent), Arizona (-12.3 percent), Illinois (-12.2 percent) and Minnesota (-9.6 percent).

The five states with the highest YOY appreciation excluding distressed sales were: West Virginia (+16.8 percent), South Carolina (+5.5 percent), New York (+4.1 percent), Wyoming (+3.8 percent), and North Dakota (+3.6 percent). In June 2011, those states were: North Dakota (+5.9 percent), New York (+4.6 percent), West Virginia (+3.6 percent), Texas (+2.8 percent) and Vermont (+2.6 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Nevada (-9.6 percent), Arizona (-8.1 percent), Delaware (-6.5 percent), Minnesota (-5.7 percent), and Michigan (-4.7 percent). In June 2011, those states were: Nevada (-9.9 percent), Arizona (-8.0 percent), Mississippi (-7.3 percent), Minnesota (-6.8 percent) and Delaware (-6.7 percent).

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

Sources:
CoreLogic

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August 31, 2011 (Chris Moore)

National monthly home prices increased by a modest 0.8 percent for the second consecutive month in July according to CoreLogic’s July Home Price Index (HPI), but prices were still 5.2 percent lower than a year ago.

July marks the fourth consecutive month in which monthly home prices have seen an increase. Although year-over-year price comparisons continue to see a decline, when excluding distressed sales, the home prices in July were only 0.6 percent lower than those in July of 2010.

Compared to the market peak in April 2006, home prices have declined 30.5 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 20.7 percent since the market peak.

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

“While July’s numbers remained relatively positive, particularly for non-distressed sales which have been stable, seasonal influences are expected to fade in late summer. At that point, the month-over-month growth will most likely turn negative. The slowdown in economic growth and increased uncertainty caused by the recent stock market volatility will continue to exert downward pressure on prices,” said Mark Fleming, chief economist for CoreLogic.

Eighty-six out of the top 100 Core Based Statistical Areas (CBSAs) experienced year over year price declines in July 2011, which was a decrease from 88 reported in June 2011.

The five states with the highest year-over-year (YOY) appreciation including distressed sales were: West Virginia (+14.0 percent), New York (+3.3 percent), Wyoming (+3.2 percent), Mississippi (+2.4 percent), and the District of Columbia (+2.3 percent). In June 2011, those states were: New York (+3.3 percent), the District of Columbia (+2.4 percent), North Dakota (+1.2 percent), Alaska (+0.1 percent) and Nebraska (+0.1 percent).

The five states with the greatest YOY depreciation including distressed sales were: Nevada (-12.2 percent), Arizona (-11.9 percent), Illinois (-10.0 percent) Minnesota (-8.6 percent), and Idaho (-7.8 percent). In June 2011, those states were Nevada (-12.4 percent), Idaho (-12.3 percent), Arizona (-12.3 percent), Illinois (-12.2 percent) and Minnesota (-9.6 percent).

The five states with the highest YOY appreciation excluding distressed sales were: West Virginia (+16.8 percent), South Carolina (+5.5 percent), New York (+4.1 percent), Wyoming (+3.8 percent), and North Dakota (+3.6 percent). In June 2011, those states were: North Dakota (+5.9 percent), New York (+4.6 percent), West Virginia (+3.6 percent), Texas (+2.8 percent) and Vermont (+2.6 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Nevada (-9.6 percent), Arizona (-8.1 percent), Delaware (-6.5 percent), Minnesota (-5.7 percent), and Michigan (-4.7 percent). In June 2011, those states were: Nevada (-9.9 percent), Arizona (-8.0 percent), Mississippi (-7.3 percent), Minnesota (-6.8 percent) and Delaware (-6.7 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
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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
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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.

August 31, 2011 (Chris Moore)

National monthly home prices increased by a modest 0.8 percent for the second consecutive month in July according to CoreLogic’s July Home Price Index (HPI), but prices were still 5.2 percent lower than a year ago.

July marks the fourth consecutive month in which monthly home prices have seen an increase. Although year-over-year price comparisons continue to see a decline, when excluding distressed sales, the home prices in July were only 0.6 percent lower than those in July of 2010.

Compared to the market peak in April 2006, home prices have declined 30.5 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 20.7 percent since the market peak.

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

“While July’s numbers remained relatively positive, particularly for non-distressed sales which have been stable, seasonal influences are expected to fade in late summer. At that point, the month-over-month growth will most likely turn negative. The slowdown in economic growth and increased uncertainty caused by the recent stock market volatility will continue to exert downward pressure on prices,” said Mark Fleming, chief economist for CoreLogic.

Eighty-six out of the top 100 Core Based Statistical Areas (CBSAs) experienced year over year price declines in July 2011, which was a decrease from 88 reported in June 2011.

The five states with the highest year-over-year (YOY) appreciation including distressed sales were: West Virginia (+14.0 percent), New York (+3.3 percent), Wyoming (+3.2 percent), Mississippi (+2.4 percent), and the District of Columbia (+2.3 percent). In June 2011, those states were: New York (+3.3 percent), the District of Columbia (+2.4 percent), North Dakota (+1.2 percent), Alaska (+0.1 percent) and Nebraska (+0.1 percent).

The five states with the greatest YOY depreciation including distressed sales were: Nevada (-12.2 percent), Arizona (-11.9 percent), Illinois (-10.0 percent) Minnesota (-8.6 percent), and Idaho (-7.8 percent). In June 2011, those states were Nevada (-12.4 percent), Idaho (-12.3 percent), Arizona (-12.3 percent), Illinois (-12.2 percent) and Minnesota (-9.6 percent).

The five states with the highest YOY appreciation excluding distressed sales were: West Virginia (+16.8 percent), South Carolina (+5.5 percent), New York (+4.1 percent), Wyoming (+3.8 percent), and North Dakota (+3.6 percent). In June 2011, those states were: North Dakota (+5.9 percent), New York (+4.6 percent), West Virginia (+3.6 percent), Texas (+2.8 percent) and Vermont (+2.6 percent).

The five states with the greatest YOY depreciation excluding distressed sales were: Nevada (-9.6 percent), Arizona (-8.1 percent), Delaware (-6.5 percent), Minnesota (-5.7 percent), and Michigan (-4.7 percent). In June 2011, those states were: Nevada (-9.9 percent), Arizona (-8.0 percent), Mississippi (-7.3 percent), Minnesota (-6.8 percent) and Delaware (-6.7 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.