Posted by: realtormarkpalace | March 8, 2012

CoreLogic: Fla. home prices up in Jan.

SANTA ANA, Calif. – March 7, 2012 – CoreLogic released its January Home Price Index (HPI) report today. Nationally, home prices, including distressed sales, declined in January 2012 by 3.1 percent year-over-year and by 1.0 percent month-to-month – its sixth consecutive monthly decline.

However, Florida sales increased by 1.8 percent year-over-year, one of only 18 states to see a price boost.

Excluding distressed sales, national year-over-year prices declined 0.9 percent in January 2012 compared to January 2011, but that same metric posted a month-over-month gain, rising 0.7 percent in January. Distressed sales include short sales and real estate owned (REO) transactions.

In Florida, prices rose even when distressed sales were excluded – 0.9 percent year-to-year.

Overall, seven states had higher price increases than Florida. South Dakota led the nation with an overall 5.7 percent price increase year-to-year, while Illinois saw the biggest price drop at 8.7 percent.

“Although home price declines are slowly improving and not far from the bottom, home prices are down to nearly the same levels as 10 years ago,” says Mark Fleming, chief economist for CoreLogic.

CoreLogic January 2012 report highlights

• Including distressed sales, the five states with the highest appreciation were: South Dakota (+5.7 percent), North Dakota (+4.0 percent), West Virginia (+4.0 percent), Montana (+3.6 percent) and Michigan (+3.0 percent).

• Including distressed sales, the five states with the greatest depreciation were: Illinois (-8.7 percent), Nevada (-8.0 percent), Delaware (-7.9 percent), Alabama (-7.7 percent) and Georgia (-7.5 percent).

• Excluding distressed sales, the five states with the highest appreciation were: South Dakota (+6.4 percent), Montana (+5.9 percent), North Dakota (+3.8 percent), Alaska (+3.7 percent) and Indiana (+2.7 percent).

• Excluding distressed sales, the five states with the greatest depreciation were: Nevada (-6.7 percent), Delaware (-5.5 percent), Minnesota (-4.1 percent), New Jersey (-3.5 percent) and Georgia (-3.3 percent).

• Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to January 2012) was -34.0 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -24.2 percent.

• The five states with the largest peak-to-current declines including distressed transactions are Nevada (-60.1 percent), Arizona (-50.8 percent), Florida (-49.0 percent), California (-43.6 percent) and Michigan (-43.2 percent).

• Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 71 are showing year-over-year declines in January, eight fewer than in December.

The CoreLogic report is available online.

© 2012 Florida Realtors®

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Responses

  1. great news!


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