CoreLogic® October Home Price Index Shows Third Consecutive Month-Over-Month Decline
[ Back ]   [ More News ]   [ Home ]
CoreLogic® October Home Price Index Shows Third Consecutive Month-Over-Month Decline

-- Year-Over-Year Index Also Down With Prices Showing a 3.9 Percent Decline­ --

SANTA ANA, Calif., Dec. 6, 2011 — (PRNewswire) — CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its October Home Price Index (HPI®) which shows that home prices in the U.S. decreased 1.3 percent on a month-over-month basis, the third consecutive monthly decline. According to the CoreLogic HPI, national home prices, including distressed sales, also declined by 3.9 percent on a year-over-year basis in October 2011 compared to October 2010.  This follows a decline of 3.8 percent* in September 2011 compared to September 2010.  Excluding distressed sales, year-over-year prices declined by 0.5 percent in October 2011 compared to October 2010 and by 2.1* percent in September 2011 compared to September 2010.  Distressed sales include short sales and real estate owned (REO) transactions.     

To view the multimedia assets associated with this release, please click: http://multivu.prnewswire.com/mnr/corelogic/50009/

(Logo: http://photos.prnewswire.com/prnh/20111206/MM16361LOGO)

"Home prices continue to decline in response to the weak demand for housing. While many housing statistics are basically moving sideways, prices continue to correct for a supply and demand imbalance. Looking forward, our forecasts indicate flat growth through 2013," said Mark Fleming, chief economist for CoreLogic.

Highlights as of October 2011

Full-month October 2011 national, state-level and top CBSA-level data can be found at http://www.corelogic.com/HPIOctober2011.

*September data was revised.  Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.  

October HPI for the Country's Largest CBSAs by Population:

 

October 2011 12-Month HPI

CBSA

Change by CBSA

 

Single Family

 

Single Family 
Excluding
Distressed

Chicago-Joliet-Naperville, IL

-9.9%

-1.3%

Atlanta-Sandy Springs-Marietta, GA

-7.9%

-3.9%

Phoenix-Mesa-Glendale, AZ

-6.7%

-6.3%

Los Angeles-Long Beach-Glendale, CA

-5.8%

0.8%

Riverside-San Bernardino-Ontario, CA

-5.7%

-3.5%

Houston-Sugar Land-Baytown, TX

-4.0%

0.4%

Dallas-Plano-Irving, TX

-0.2%

3.4%

Philadelphia, PA

0.7%

1.6%

Washington-Arlington-Alexandria, DC-VA-MD-WV

1.3%

2.9%

New York-White Plains-Wayne, NY-NJ

2.6%

3.6%

Source: CoreLogic.

October HPI State and National Ranking:

 

October 2011 12-Month HPI

State

 Change by State

 

Single Family

Single Family

Excluding Distressed

National

-3.9%

-0.5%

Nevada

-12.1%

-8.8%

Illinois

-9.4%

-1.6%

Arizona

-8.1%

-7.0%

Minnesota

-7.9%

-5.7%

Georgia

-7.3%

-3.6%

Rhode Island

-6.9%

-3.2%

Idaho

-6.5%

-3.5%

California

-6.2%

-0.6%

Utah

-6.1%

-2.0%

Ohio

-6.1%

0.8%

New Mexico

-6.1%

-2.4%

Delaware

-5.4%

-3.9%

Washington

-5.0%

-0.7%

Connecticut

-4.5%

-3.1%

Wisconsin

-4.2%

-2.9%

Massachusetts

-3.9%

-1.5%

Alabama

-3.7%

2.0%

Missouri

-3.7%

0.0%

New Hampshire

-3.5%

-0.7%

Florida

-3.5%

-1.1%

Oregon

-3.1%

-1.9%

Louisiana

-2.5%

0.9%

Kentucky

-2.2%

-1.0%

Texas

-1.6%

1.6%

Michigan

-1.4%

-2.8%

Colorado

-1.2%

0.1%

Hawaii

-1.2%

1.8%

Maine

-1.0%

3.1%

New Jersey

-0.9%

-1.5%

Montana

-0.9%

2.5%

Maryland

-0.8%

0.5%

North Carolina

-0.7%

-0.7%

Tennessee

-0.2%

0.4%

Arkansas

-0.2%

0.8%

Iowa

0.0%

1.0%

Virginia

0.1%

1.5%

Oklahoma

0.1%

1.8%

Pennsylvania

0.5%

1.9%

Wyoming

0.8%

2.6%

Indiana

0.9%

1.7%

North Dakota

1.2%

1.5%

Vermont

1.6%

1.7%

South Carolina

1.8%

4.6%

Nebraska

1.9%

1.6%

Mississippi

2.0%

0.3%

Alaska

2.1%

2.9%

Kansas

2.1%

2.8%

District of Columbia

2.4%

2.5%

New York

3.0%

3.1%

South Dakota

3.1%

1.9%

West Virginia

4.8%

1.4%

Source: CoreLogic.

Methodology
The CoreLogic HPI incorporates more than 30 years' worth of repeat sales transactions, representing more than 65 million observations sourced from CoreLogic industry-leading property information and its securities and servicing databases. The CoreLogic HPI provides a multi-tier market evaluation based on price, time between sales, property type, loan type (conforming vs. nonconforming), and distressed sales. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time, including single-family attached and single-family detached homes, which provides a more accurate "constant-quality" view of pricing trends than basing analysis on all home sales. The CoreLogic HPI provides the most comprehensive set of monthly home price indices and median sales prices available covering 6,621 ZIP codes (58 percent of total U.S. population), 608 Core Based Statistical Areas (86 percent of total U.S. population) and 1,149 counties (84 percent of total U.S. population) located in all 50 states and the District of Columbia. 

About CoreLogic
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built one of the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The Company, headquartered in Santa Ana, Calif., has more than 5,000 employees globally. For more information visit www.corelogic.com.

Source:  CoreLogic
The data provided is for use only by the primary recipient or the primary recipient's publication or broadcast. This data may not be re-sold, republished or licensed to any other source, including publications and sources owned by the primary recipient's parent company without prior written permission from CoreLogic.  Any CoreLogic data used for publication or broadcast, in whole or in part, must be sourced as coming from CoreLogic, a data and analytics company. For use with broadcast or web content, the citation must directly accompany first reference of the data.  If the data is illustrated with maps, charts, graphs or other visual elements, the CoreLogic logo must be included on screen or web site.  For questions, analysis or interpretation of the data, contact Lori Guyton at Email Contact or Bill Campbell at Email Contact. Data provided may not be modified without the prior written permission of CoreLogic.  Do not use the data in any unlawful manner. This data is compiled from public records, contributory databases and proprietary analytics, and its accuracy is dependent upon these sources.

CORELOGIC, the stylized CoreLogic logo and HPI are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries. No trademark of CoreLogic shall be used without the express written consent of CoreLogic.

SOURCE CoreLogic

Contact:
CoreLogic
For real estate industry and trade media: Bill Campbell
Email Contact +1-212-995-8057 (office)
Phone: +1-917-328-6539 (mobile)
for general news media: Lori Guyton
Email Contact +1-901-277-6066
Web: http://www.corelogic.com