National home prices, including distressed sales, increased on a year-over-year basis by 1.1 per cent and on a month-over-month basis by 2.2 per cent in April, marking the second consecutive month increase for both.
Excluding distressed sales (sales of pre-foreclosure and real estate owned properties), home prices increased 2.6 per cent in April, marking the third straight month-over-month increase.
CoreLogic also introduced an exclusive metric, called the Corelogic Pending HPI, which is a tool to forecast home prices over the coming months. The metric expects house prices to rise another 2.0 from April to May.
Now here are the five states with the highest appreciation in overall national home prices, including distressed sales, in April 2012 from Corelogic:
- Arizona: +8.8%
- Florida: +5.5%
- Utah: +5.4%
- Idaho: +5.4%
- Montana: +5.4%
And the five states with the greatest depreciation in overall national home prices in January 2012:
- Delaware: -11.9%
- Illinois: -6.8%
- Alabama: -6.6%
- Rhode Island: -6.2%
- Georgia: -5.6%
The chart below shows how the home price index has performed since January 2000:
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