Home Values Post a Gain in November
Home Values Post a Gain in November
Home Values Post a Gain in November
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(January 16, 2013) Monthly national home prices posted a modest increase after two months of declines in November according to CoreLogic’s Monthly Home Price Index (HPI), while year-over-year, home prices posted their largest gain in almost seven years.

Including distressed property sales, home prices in November were 0.3 percent higher than in October and were 7.4 percent higher than in November of last year. It was the ninth consecutive month that prices have improved on a yearly basis and the largest gain in annual home values since May of 2006.

Excluding distressed properties, monthly home values improved by 0.9 percent and were also 6.7 percent higher than in November of last year.

Nevada (-52.9 percent) continued to post the largest decline in home prices since the market peaked in 2006 followed by Florida (-44.3 percent), Arizona (-39.8 percent), California (-35.8 percent) and Michigan (-35.4 percent). That was little changed from last month’s list of worst performing states which included Nevada (-53.5 percent), Florida (-44.5 percent), Arizona (-40.2 percent), California (-36.6 percent) and Michigan (-35.3 percent).

Since the market peak in November 2006, home prices have declined 26.8 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.

Thirteen out of the top 100 Core Based Statistical Areas (CBSAs) experienced year-over-year price declines in November, which was seven less than the revised amount reported in October.

The states with the highest year-over-year (YOY) appreciation including distressed sales were: Arizona (+20.9 percent), Nevada (+14.2 percent), Idaho (+13.8 percent), North Dakota (+11.3 percent), California (+11.1 percent). In October, those states were: Arizona (+21.3 percent), Hawaii (+13.2 percent), Idaho (+12.4 percent), Nevada (+12.4 percent) and North Dakota (+10.4 percent.

The states with the greatest YOY depreciation including distressed sales were: Delaware (-4.9 percent), Illinois (-2.2 percent), Connecticut (-0.5 percent), New Jersey (-0.5 percent) and Rhode Island (-0.3 percent). In October, those states were: Illinois (-2.7 percent), Delaware (-2.7 percent), Rhode Island (-0.6 percent), New Jersey (-0.6 percent) and Alabama (-0.3 percent).

The states with the highest YOY appreciation excluding distressed sales were: Arizona (+16.5 percent), North Dakota (+12.9 percent), Nevada (+12.6 percent), Hawaii (+11.6 percent) and Idaho (+11.6 percent). In October, those states were: Arizona (+16.6 percent), Hawaii (+12.2 percent), Nevada (+10.8 percent), Idaho (+9.7 percent) and California (+9.7 percent).

The states with the greatest YOY depreciation excluding distressed sales were: Delaware (-3.5 percent) and Alabama (-2.2 percent). In October, those states were: Delaware (-2.1 percent), Alabama (-1.5 percent) and New Jersey (-0.2 percent).

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

Sources:
PRNewsWire

Reported by Chris Moore

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(January 16, 2013) Monthly national home prices posted a modest increase after two months of declines in November according to CoreLogic’s Monthly Home Price Index (HPI), while year-over-year, home prices posted their largest gain in almost seven years.

Including distressed property sales, home prices in November were 0.3 percent higher than in October and were 7.4 percent higher than in November of last year. It was the ninth consecutive month that prices have improved on a yearly basis and the largest gain in annual home values since May of 2006.

Excluding distressed properties, monthly home values improved by 0.9 percent and were also 6.7 percent higher than in November of last year.

Nevada (-52.9 percent) continued to post the largest decline in home prices since the market peaked in 2006 followed by Florida (-44.3 percent), Arizona (-39.8 percent), California (-35.8 percent) and Michigan (-35.4 percent). That was little changed from last month’s list of worst performing states which included Nevada (-53.5 percent), Florida (-44.5 percent), Arizona (-40.2 percent), California (-36.6 percent) and Michigan (-35.3 percent).

Since the market peak in November 2006, home prices have declined 26.8 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.

Thirteen out of the top 100 Core Based Statistical Areas (CBSAs) experienced year-over-year price declines in November, which was seven less than the revised amount reported in October.

The states with the highest year-over-year (YOY) appreciation including distressed sales were: Arizona (+20.9 percent), Nevada (+14.2 percent), Idaho (+13.8 percent), North Dakota (+11.3 percent), California (+11.1 percent). In October, those states were: Arizona (+21.3 percent), Hawaii (+13.2 percent), Idaho (+12.4 percent), Nevada (+12.4 percent) and North Dakota (+10.4 percent.

The states with the greatest YOY depreciation including distressed sales were: Delaware (-4.9 percent), Illinois (-2.2 percent), Connecticut (-0.5 percent), New Jersey (-0.5 percent) and Rhode Island (-0.3 percent). In October, those states were: Illinois (-2.7 percent), Delaware (-2.7 percent), Rhode Island (-0.6 percent), New Jersey (-0.6 percent) and Alabama (-0.3 percent).

The states with the highest YOY appreciation excluding distressed sales were: Arizona (+16.5 percent), North Dakota (+12.9 percent), Nevada (+12.6 percent), Hawaii (+11.6 percent) and Idaho (+11.6 percent). In October, those states were: Arizona (+16.6 percent), Hawaii (+12.2 percent), Nevada (+10.8 percent), Idaho (+9.7 percent) and California (+9.7 percent).

The states with the greatest YOY depreciation excluding distressed sales were: Delaware (-3.5 percent) and Alabama (-2.2 percent). In October, those states were: Delaware (-2.1 percent), Alabama (-1.5 percent) and New Jersey (-0.2 percent).

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

Sources:
PRNewsWire

Reported by Chris Moore

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(January 16, 2013) Monthly national home prices posted a modest increase after two months of declines in November according to CoreLogic’s Monthly Home Price Index (HPI), while year-over-year, home prices posted their largest gain in almost seven years.

Including distressed property sales, home prices in November were 0.3 percent higher than in October and were 7.4 percent higher than in November of last year. It was the ninth consecutive month that prices have improved on a yearly basis and the largest gain in annual home values since May of 2006.

Excluding distressed properties, monthly home values improved by 0.9 percent and were also 6.7 percent higher than in November of last year.

Nevada (-52.9 percent) continued to post the largest decline in home prices since the market peaked in 2006 followed by Florida (-44.3 percent), Arizona (-39.8 percent), California (-35.8 percent) and Michigan (-35.4 percent). That was little changed from last month’s list of worst performing states which included Nevada (-53.5 percent), Florida (-44.5 percent), Arizona (-40.2 percent), California (-36.6 percent) and Michigan (-35.3 percent).

Since the market peak in November 2006, home prices have declined 26.8 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.

Thirteen out of the top 100 Core Based Statistical Areas (CBSAs) experienced year-over-year price declines in November, which was seven less than the revised amount reported in October.

The states with the highest year-over-year (YOY) appreciation including distressed sales were: Arizona (+20.9 percent), Nevada (+14.2 percent), Idaho (+13.8 percent), North Dakota (+11.3 percent), California (+11.1 percent). In October, those states were: Arizona (+21.3 percent), Hawaii (+13.2 percent), Idaho (+12.4 percent), Nevada (+12.4 percent) and North Dakota (+10.4 percent.

The states with the greatest YOY depreciation including distressed sales were: Delaware (-4.9 percent), Illinois (-2.2 percent), Connecticut (-0.5 percent), New Jersey (-0.5 percent) and Rhode Island (-0.3 percent). In October, those states were: Illinois (-2.7 percent), Delaware (-2.7 percent), Rhode Island (-0.6 percent), New Jersey (-0.6 percent) and Alabama (-0.3 percent).

The states with the highest YOY appreciation excluding distressed sales were: Arizona (+16.5 percent), North Dakota (+12.9 percent), Nevada (+12.6 percent), Hawaii (+11.6 percent) and Idaho (+11.6 percent). In October, those states were: Arizona (+16.6 percent), Hawaii (+12.2 percent), Nevada (+10.8 percent), Idaho (+9.7 percent) and California (+9.7 percent).

The states with the greatest YOY depreciation excluding distressed sales were: Delaware (-3.5 percent) and Alabama (-2.2 percent). In October, those states were: Delaware (-2.1 percent), Alabama (-1.5 percent) and New Jersey (-0.2 percent).

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

Sources:
PRNewsWire

Reported by Chris Moore

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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.
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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 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
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CHECK
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