National home prices, including distressed sales declined 3.1 per cent on a year-over-year basis in January 2012, and were down 1 per cent from the previous month, according to latest data from CoreLogic. This is the sixth straight monthly decline in the home price index. Mark Fleming chief economist for CoreLogic says home prices are down to almost the same levels as 10 years ago.
Excluding distressed sales (sales of pre-foreclosure and real estate owned properties) home prices fell 0.9 per cent YoY, but gained 0.7 per cent from December 2011.
Now here are the five states with the highest appreciation in overall national home prices in January 2012:
- South Dakota: +5.7%
- North Dakota: +4.0%
- West Virginia: +4.0%
- Montana: +3.6%
- Michigan: +3.0%
And the five states with the greatest depreciation in overall national home prices in January 2012:
- Illinois: -8.7%
- Nevada: -8.0%
- Delaware: -7.9%
- Alabama: -7.7%
- Georgia: -7.5%
Here’s a chart from CoreLogic that shows how the national home price index has performed since January 2000: