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Home Prices Creep Up for Second Consecutive Month
Home Prices Creep Up for Second Consecutive Month
Home Prices Creep Up for Second Consecutive Month
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July 1, 2011 (Chris Moore)

It’s not an avalanche, but maybe it’s the start of something good, as national home prices, including distressed sales, increased by 0.8 percent from April 2011 to May 2011 according to CoreLogic’s May Home Price Index (HPI), marking the second consecutive month of gains for the HPI.

Distressed properties over the past year continued to be a major factor in influencing housing prices. Including distressed property sales, home prices were 7.4 percent lower in May 2011 compared to May 2010, but by excluding distressed property sales, home prices would only be 0.4 percent lower than they were a year earlier.

Compared to the market peak in April 2006, home prices have declined 32.7 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 21.2 percent since the market peak.

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

“Two consecutive months of month-over-month growth and continued relative strength in the non-distressed market segment are positive seasonal signs in the housing market. Slowly declining shadow inventory and stabilized negative equity levels are also positive signs. Nonetheless, the fragile economic recovery is still critical to the long-term recovery in the housing market,” said Mark Fleming,” said Mark Fleming, chief economist for CoreLogic.

Ninety-one out of the top 100 Core Based Statistical Areas (CBSAs) experienced year over year price declines in May 2011, which was the same amount reported in April 2011.

The five states with the highest appreciation including distressed sales were: New York (+4.4 percent), Vermont (+3.9 percent), North Dakota (+3.8 percent), Hawaii (+2.5 percent) and the District of Columbia (+0.5 percent). In April 2011, those states were: North Dakota (+4.2 percent), Vermont (+3.4 percent), New York (+3.2 percent), The District of Columbia (+2.2 percent) and Mississippi (+1.4 percent).

The five states with the greatest depreciation including distressed sales were: Idaho (-16.4 percent), Michigan (-12.9 percent), Arizona (-12.1 percent), Illinois (-11.8 percent) and Nevada (-11.6 percent). In April 2011, those states were: Idaho (-15.2 percent), Michigan (-13.2 percent), Arizona (-11.9 percent), Rhode Island (-11.6 percent) and Nevada (-11.4 percent).

The five states with the highest appreciation excluding distressed sales were: West Virginia (+10.1 percent), Hawaii (+9.0 percent), North Dakota (+8.6 percent), Vermont (+6.3 percent) and New York (+6.1 percent). In April 2011, those states were: West Virginia (+8.4 percent), South Carolina (+6.1 percent), Hawaii (+5.8 percent), Mississippi (+5.0 percent) and North Dakota (+4.5 percent).

The five states with the greatest depreciation excluding distressed sales were: Nevada (-9.8 percent), Idaho (-7.9 percent), Arizona (-7.0 percent), South Dakota (-6.1 percent) and Minnesota (-5.0 percent). In April 2011, those states were: Nevada (-10.3 percent), Idaho (-9.5 percent), Arizona (-6.0 percent), South Dakota (-5.9 percent) and Minnesota (-5.6 percent).

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

Sources:
CoreLogic

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Todays Mortgage
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July 1, 2011 (Chris Moore)

It’s not an avalanche, but maybe it’s the start of something good, as national home prices, including distressed sales, increased by 0.8 percent from April 2011 to May 2011 according to CoreLogic’s May Home Price Index (HPI), marking the second consecutive month of gains for the HPI.

Distressed properties over the past year continued to be a major factor in influencing housing prices. Including distressed property sales, home prices were 7.4 percent lower in May 2011 compared to May 2010, but by excluding distressed property sales, home prices would only be 0.4 percent lower than they were a year earlier.

Compared to the market peak in April 2006, home prices have declined 32.7 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 21.2 percent since the market peak.

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

“Two consecutive months of month-over-month growth and continued relative strength in the non-distressed market segment are positive seasonal signs in the housing market. Slowly declining shadow inventory and stabilized negative equity levels are also positive signs. Nonetheless, the fragile economic recovery is still critical to the long-term recovery in the housing market,” said Mark Fleming,” said Mark Fleming, chief economist for CoreLogic.

Ninety-one out of the top 100 Core Based Statistical Areas (CBSAs) experienced year over year price declines in May 2011, which was the same amount reported in April 2011.

The five states with the highest appreciation including distressed sales were: New York (+4.4 percent), Vermont (+3.9 percent), North Dakota (+3.8 percent), Hawaii (+2.5 percent) and the District of Columbia (+0.5 percent). In April 2011, those states were: North Dakota (+4.2 percent), Vermont (+3.4 percent), New York (+3.2 percent), The District of Columbia (+2.2 percent) and Mississippi (+1.4 percent).

The five states with the greatest depreciation including distressed sales were: Idaho (-16.4 percent), Michigan (-12.9 percent), Arizona (-12.1 percent), Illinois (-11.8 percent) and Nevada (-11.6 percent). In April 2011, those states were: Idaho (-15.2 percent), Michigan (-13.2 percent), Arizona (-11.9 percent), Rhode Island (-11.6 percent) and Nevada (-11.4 percent).

The five states with the highest appreciation excluding distressed sales were: West Virginia (+10.1 percent), Hawaii (+9.0 percent), North Dakota (+8.6 percent), Vermont (+6.3 percent) and New York (+6.1 percent). In April 2011, those states were: West Virginia (+8.4 percent), South Carolina (+6.1 percent), Hawaii (+5.8 percent), Mississippi (+5.0 percent) and North Dakota (+4.5 percent).

The five states with the greatest depreciation excluding distressed sales were: Nevada (-9.8 percent), Idaho (-7.9 percent), Arizona (-7.0 percent), South Dakota (-6.1 percent) and Minnesota (-5.0 percent). In April 2011, those states were: Nevada (-10.3 percent), Idaho (-9.5 percent), Arizona (-6.0 percent), South Dakota (-5.9 percent) and Minnesota (-5.6 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 LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
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.
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July 1, 2011 (Chris Moore)

It’s not an avalanche, but maybe it’s the start of something good, as national home prices, including distressed sales, increased by 0.8 percent from April 2011 to May 2011 according to CoreLogic’s May Home Price Index (HPI), marking the second consecutive month of gains for the HPI.

Distressed properties over the past year continued to be a major factor in influencing housing prices. Including distressed property sales, home prices were 7.4 percent lower in May 2011 compared to May 2010, but by excluding distressed property sales, home prices would only be 0.4 percent lower than they were a year earlier.

Compared to the market peak in April 2006, home prices have declined 32.7 percent when including distressed property sales and when excluding distressed property sales, home prices have dropped 21.2 percent since the market peak.

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

“Two consecutive months of month-over-month growth and continued relative strength in the non-distressed market segment are positive seasonal signs in the housing market. Slowly declining shadow inventory and stabilized negative equity levels are also positive signs. Nonetheless, the fragile economic recovery is still critical to the long-term recovery in the housing market,” said Mark Fleming,” said Mark Fleming, chief economist for CoreLogic.

Ninety-one out of the top 100 Core Based Statistical Areas (CBSAs) experienced year over year price declines in May 2011, which was the same amount reported in April 2011.

The five states with the highest appreciation including distressed sales were: New York (+4.4 percent), Vermont (+3.9 percent), North Dakota (+3.8 percent), Hawaii (+2.5 percent) and the District of Columbia (+0.5 percent). In April 2011, those states were: North Dakota (+4.2 percent), Vermont (+3.4 percent), New York (+3.2 percent), The District of Columbia (+2.2 percent) and Mississippi (+1.4 percent).

The five states with the greatest depreciation including distressed sales were: Idaho (-16.4 percent), Michigan (-12.9 percent), Arizona (-12.1 percent), Illinois (-11.8 percent) and Nevada (-11.6 percent). In April 2011, those states were: Idaho (-15.2 percent), Michigan (-13.2 percent), Arizona (-11.9 percent), Rhode Island (-11.6 percent) and Nevada (-11.4 percent).

The five states with the highest appreciation excluding distressed sales were: West Virginia (+10.1 percent), Hawaii (+9.0 percent), North Dakota (+8.6 percent), Vermont (+6.3 percent) and New York (+6.1 percent). In April 2011, those states were: West Virginia (+8.4 percent), South Carolina (+6.1 percent), Hawaii (+5.8 percent), Mississippi (+5.0 percent) and North Dakota (+4.5 percent).

The five states with the greatest depreciation excluding distressed sales were: Nevada (-9.8 percent), Idaho (-7.9 percent), Arizona (-7.0 percent), South Dakota (-6.1 percent) and Minnesota (-5.0 percent). In April 2011, those states were: Nevada (-10.3 percent), Idaho (-9.5 percent), Arizona (-6.0 percent), South Dakota (-5.9 percent) and Minnesota (-5.6 percent).

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

Sources:
CoreLogic

HOW LOANRATENETWORK
LOAN CENTER 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 LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
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.
Information You Can Use

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