Home Prices Fall for Fourth Month in a Row
Home Prices Fall for Fourth Month in a Row
Home Prices Fall for Fourth Month in a Row
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January 12, 2011 (Jeff Alan)
sinking-home-image
CoreLogic released its November Home Price Index yesterday which showed that home prices continued to tumble for the fourth month in a row in year over year sales. Home prices for November 2010 were down 5.07 percent compared to November 2009. The decline was slightly greater than the 3.35 percent annual decline reported for October.

Excluding foreclosures and other distressed housing sales, the annual decline in prices was 2.21 in November 2010 and 2.24 percent in October, with the latter revised upward from a 1.5 percent annual decline reported last month.

“We’re continuing to see the influence of seasonal declines that typically depress home prices during the latter part of the year, but the fact that the rate of decline increased for November is indicative of the uphill battle we’re facing with the housing recovery,” said Mark Fleming, chief economist for CoreLogic.

Additional information in the report included:

– Including distressed sales, the five states with the highest appreciation were: Maine (+8.58 percent), North Dakota (+4.41 percent), Wyoming (+3.67 percent), New York (+2.07 percent) and Vermont (+1.78 percent).

– Including distressed sales, the five states with the greatest depreciation were: Idaho (-13.56 percent), Alabama (-11.18 percent), Arizona (-10.38 percent), Oregon (-9.26 percent) and Mississippi (-8.37 percent).

– Excluding distressed sales, the five states with the highest appreciation were: Wyoming (+6.47 percent), North Dakota (+4.91 percent), Maine (+4.46 percent), New York (+3.96 percent), and District of Columbia (+3.54 percent).

– Excluding distressed sales, the five states with the greatest depreciation were: Idaho (-10.42 percent), Alabama (-7.82 percent), Arizona (-7.81 percent), Nevada (-6.13 percent) and Washington (-6.05 percent).

– Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to November 2010) was -30 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -21.7 percent.

And for you history buffs…home values during the Great Depression years, 1928 through 1933, declined 25.9 percent.

If that wasn’t bad enough, the value of 1600 Pennsylvania Avenue has dropped by $80 million, or nearly 25 percent since the peak of the housing boom. Its current value is $251.6 million, down from $331.5 million according to Zillow.com.

Sign of the times…

Tags: home prices, corelogic, distressed sales, highest appreciation, highest depreciation, hpi, distressed transactions, white house, housing boom, housing bust

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January 12, 2011 (Jeff Alan)
sinking-home-image
CoreLogic released its November Home Price Index yesterday which showed that home prices continued to tumble for the fourth month in a row in year over year sales. Home prices for November 2010 were down 5.07 percent compared to November 2009. The decline was slightly greater than the 3.35 percent annual decline reported for October.

Excluding foreclosures and other distressed housing sales, the annual decline in prices was 2.21 in November 2010 and 2.24 percent in October, with the latter revised upward from a 1.5 percent annual decline reported last month.

“We’re continuing to see the influence of seasonal declines that typically depress home prices during the latter part of the year, but the fact that the rate of decline increased for November is indicative of the uphill battle we’re facing with the housing recovery,” said Mark Fleming, chief economist for CoreLogic.

Additional information in the report included:

– Including distressed sales, the five states with the highest appreciation were: Maine (+8.58 percent), North Dakota (+4.41 percent), Wyoming (+3.67 percent), New York (+2.07 percent) and Vermont (+1.78 percent).

– Including distressed sales, the five states with the greatest depreciation were: Idaho (-13.56 percent), Alabama (-11.18 percent), Arizona (-10.38 percent), Oregon (-9.26 percent) and Mississippi (-8.37 percent).

– Excluding distressed sales, the five states with the highest appreciation were: Wyoming (+6.47 percent), North Dakota (+4.91 percent), Maine (+4.46 percent), New York (+3.96 percent), and District of Columbia (+3.54 percent).

– Excluding distressed sales, the five states with the greatest depreciation were: Idaho (-10.42 percent), Alabama (-7.82 percent), Arizona (-7.81 percent), Nevada (-6.13 percent) and Washington (-6.05 percent).

– Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to November 2010) was -30 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -21.7 percent.

And for you history buffs…home values during the Great Depression years, 1928 through 1933, declined 25.9 percent.

If that wasn’t bad enough, the value of 1600 Pennsylvania Avenue has dropped by $80 million, or nearly 25 percent since the peak of the housing boom. Its current value is $251.6 million, down from $331.5 million according to Zillow.com.

Sign of the times…

Tags: home prices, corelogic, distressed sales, highest appreciation, highest depreciation, hpi, distressed transactions, white house, housing boom, housing bust

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.
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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.
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January 12, 2011 (Jeff Alan)
sinking-home-image
CoreLogic released its November Home Price Index yesterday which showed that home prices continued to tumble for the fourth month in a row in year over year sales. Home prices for November 2010 were down 5.07 percent compared to November 2009. The decline was slightly greater than the 3.35 percent annual decline reported for October.

Excluding foreclosures and other distressed housing sales, the annual decline in prices was 2.21 in November 2010 and 2.24 percent in October, with the latter revised upward from a 1.5 percent annual decline reported last month.

“We’re continuing to see the influence of seasonal declines that typically depress home prices during the latter part of the year, but the fact that the rate of decline increased for November is indicative of the uphill battle we’re facing with the housing recovery,” said Mark Fleming, chief economist for CoreLogic.

Additional information in the report included:

– Including distressed sales, the five states with the highest appreciation were: Maine (+8.58 percent), North Dakota (+4.41 percent), Wyoming (+3.67 percent), New York (+2.07 percent) and Vermont (+1.78 percent).

– Including distressed sales, the five states with the greatest depreciation were: Idaho (-13.56 percent), Alabama (-11.18 percent), Arizona (-10.38 percent), Oregon (-9.26 percent) and Mississippi (-8.37 percent).

– Excluding distressed sales, the five states with the highest appreciation were: Wyoming (+6.47 percent), North Dakota (+4.91 percent), Maine (+4.46 percent), New York (+3.96 percent), and District of Columbia (+3.54 percent).

– Excluding distressed sales, the five states with the greatest depreciation were: Idaho (-10.42 percent), Alabama (-7.82 percent), Arizona (-7.81 percent), Nevada (-6.13 percent) and Washington (-6.05 percent).

– Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to November 2010) was -30 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -21.7 percent.

And for you history buffs…home values during the Great Depression years, 1928 through 1933, declined 25.9 percent.

If that wasn’t bad enough, the value of 1600 Pennsylvania Avenue has dropped by $80 million, or nearly 25 percent since the peak of the housing boom. Its current value is $251.6 million, down from $331.5 million according to Zillow.com.

Sign of the times…

Tags: home prices, corelogic, distressed sales, highest appreciation, highest depreciation, hpi, distressed transactions, white house, housing boom, housing bust

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.