CoreLogic: Home Prices Fell 4.7% in 2011

February 2nd, 2012
in econ_news

Econintersect: CoreLogic's Home Price Index (HPI) shows that home prices in the U.S. decreased in December 2011 1.4% month-over-month following last months 1.4% decline. This is the fifth month in a row of home value decline.

Prices declined 4.7% year-over-year. Mark Fleming, chief economist for CoreLogic stated:

"While overall prices declined by almost 5 percent in 2011, non-distressed prices showed only a small decrease. Until distressed sales in the market recede, we will see continued downward pressure on prices."

Follow up:

According to CoreLogic's data, if distressed home sales are excluded - prices decreased by 0.9% in 2011

For the complete report, click on the hyperlink below.

Source: CoreLogic

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