Feb. 5, 2013
(NYSE: CLGX), a leading residential property information, analytics and services provider, today released its December CoreLogic HPI
report. Home prices nationwide, including distressed sales, increased on a year-over-year basis by 8.3 percent in
. This change represents the biggest increase since
and the 10
consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 0.4 percent in
*. The HPI analysis shows that all but four states are experiencing year-over-year price gains.
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Excluding distressed sales, home prices increased on a year-over-year basis by 7.5 percent in
. On a month-over-month basis, excluding distressed sales, home prices increased 0.9 percent in
. Distressed sales include short sales and real estate owned (REO) transactions.
The CoreLogic Pending HPI indicates that
home prices, including distressed sales, are expected to rise by 7.9 percent on a year-over-year basis from
and fall by 1 percent on a month-over-month basis from
, reflecting a seasonal winter slowdown. Excluding distressed sales,
house prices are poised to rise 8.6 percent year over year from
and by 0.7 percent month over month from
. The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. It is based on Multiple Listing Service (MLS) data that measure price changes for the most recent month.
"December marked 10 consecutive months of year-over-year home price improvements, and the strongest growth since the height of the last housing boom more than six years ago," said
, chief economist for CoreLogic. "We expect price growth to continue in January as our Pending HPI shows strong year-over-year appreciation."
"We are heading into 2013 with home prices on the rebound," said
, president and CEO of CoreLogic. "The upward trend in home prices in 2012 was broad based with 46 of 50 states registering gains for the year. All signals point to a continued improvement in the fundamentals underpinning the U.S. housing market recovery."
Highlights as of December 2012:
- Including distressed sales, the five states with the highest home price appreciation were: Arizona (+20.2 percent), Nevada (+15.3 percent), Idaho (+14.6 percent), California (+12.6 percent) and Hawaii (+12.5 percent).
- Including distressed sales, this month only four states posted home price depreciation: Delaware (-3.4 percent), Illinois (-2.7 percent), New Jersey (-0.9 percent) and Pennsylvania (-0.5 percent).
- Excluding distressed sales, the five states with the highest home price appreciation were: Arizona (+16.4 percent), Nevada (+14.7 percent), California (+12.8 percent), Hawaii (+11.7 percent) and North Dakota (+10.8 percent).
- Excluding distressed sales, this month only three states posted home price depreciation: Delaware (-1.9 percent), Alabama (-1.0 percent) and New Jersey (-0.5 percent).
- Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to December 2012) was -26.9 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -20.8 percent.
- The five states with the largest peak-to-current declines, including distressed transactions, were Nevada (-52.4 percent), Florida (-43.5 percent), Arizona (-39.8 percent), Michigan (-36.5 percent) and California (-35.4 percent).
- Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, only 16 are showing year-over-year declines in December, two fewer than in November.
*November data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.