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.”
According to CoreLogic’s data, if distressed home sales are excluded – prices decreased by 0.9% in 2011
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