IRVINE, CA-Home prices nationwide, including distressed sales, increased on a year-over-year basis by 5% in September compared to September 2011, according to a report by CoreLogic, a leading provider of information, analytics and business services here. The change represents the biggest increase since July 2006 and the 7th consecutive increase in home prices nationally on a year-over-year basis.
On a month-over-month basis, however, including distressed sales, home prices actually decreased by 0.3% in September compared to August. Still, the HPI analysis from CoreLogic shows that all but seven states are experiencing year-over-year price gains.
“While prices on a month-over-month basis are declining, as expected in the housing off-season, most states are exhibiting price increases,” said Mark Fleming, chief economist for CoreLogic, in a prepared statement. “Gains are particularly large in former housing bubble states and energy-industry-concentrated states.”
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| Prices, for both distressed and non-distressed homes, have been on the rise since January after a dip between year-end ’09 and March ’11. |
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| Some states saw a greater-than-6% rise in home prices, including distressed homes, from a year ago, while others saw smaller increases or no change at all. |
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| When distressed sales are excluded from the total, Alabama was the only state that experienced no change in sale prices from a year ago, while others saw up to a 6% rise. |
*charts courtesy of CoreLogic
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
