Appraiser News Online
May 15, 2013
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CoreLogic: Nation’s Home Prices Rise for 10 Consecutive Months

Home prices nationwide, including distressed sales, rose by 8.3 percent in December 2012 compared to December 2011 — the largest increase since May 2006 and the 10th consecutive monthly bump in the nation’s home prices, analytics firm CoreLogic reported Feb. 5 in its Home Price Index.

The HPI showed that the five states with the highest home price appreciation (including distressed sales) were Arizona (up 20.2 percent), Nevada (up 15.3 percent), Idaho (up 14.6 percent) California (12.6 percent) and Hawaii (up 12.5 percent).

Only four states failed to show year-over-year price gains, the HPI revealed. Delaware was down 3.4 percent from December 2011 to December 2012, while Illinois was down 2.7 percent, New Jersey was down 0.9 percent and Pennsylvania was down 0.5 percent.

CoreLogic noted that on a month-over-month basis, including distressed sales, home prices increased nationwide by 0.4 percent in December 2012 compared to November 2012.

Excluding distressed sales, home prices increased on a year-over-year basis by 7.5 percent nationally in December 2012 compared to December 2011. The five states with the highest home-price appreciation were Arizona (up 16.4 percent), Nevada (up 14.7 percent), California (up 12.8 percent) Hawaii (up 11.7 percent) and North Dakota (up 10.8 percent).

The data showed that year-over-year only three states showed home price depreciation when distressed sales were excluded. Delaware was down 1.9 percent, while Alabama and New Jersey were down 1.0 percent 0.5 percent respectively.

Excluding distressed sales, on a month-over-month basis, home prices increased 0.9 percent nationwide in December 2012 compared to November 2012.

CoreLogic projected that the nation’s January 2013 house prices, excluding distressed sales, could rise 8.6 percent year-over-year from January 2012 and by 0.7 percent month-over-month from December 2012.

Read the December 2012 CoreLogic Home Price Index.