Econintersect: CoreLogic’s Home Price Index (HPI) shows that home prices in the U.S. decreased in January 2012 1.0% month-over-month following last month’s 1.4% decline. This is the fifth month in a row of home value decline.
Prices declined 3.1% year-over-year. Mark Fleming, chief economist for CoreLogic stated:
“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.”
According to CoreLogic’s data, if distressed home sales are excluded – prices decreased by 0.9% year-over-year.
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