Aug. 6, 2013
/PRNewswire/ -- CoreLogic
(NYSE: CLGX), a leading residential property information, analytics and services provider, today released its June CoreLogic Home Price Index (HPI
) report. Home prices nationwide, including distressed sales, increased 11.9 percent on a year-over-year basis in
. This change represents the 16
consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 1.9 percent in
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Excluding distressed sales, home prices increased on a year-over-year basis by 11 percent in
. On a month-over-month basis, excluding distressed sales, home prices increased 1.8 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 12.5 percent on a year-over-year basis from
and rise by 1.8 percent on a month-over-month basis from
. Excluding distressed sales,
home prices are poised to rise 11.4 percent year over year from
and by 1.3 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.
"In the first six months of 2013, the U.S. housing market appreciated a remarkable 10 percent," said Dr.
, chief economist for CoreLogic. "This trend in home price gains is moving at the fastest pace since 1977."
"The U.S. housing market experienced robust price appreciation during the first half of 2013 and our forecast calls for double-digit growth through July," said
, president and CEO of CoreLogic. "Despite their rebound of late, home prices remain reasonable in a historical context, with most states near peak affordability levels."
Highlights as of June 2013:
- Including distressed sales, the five states with the highest home price appreciation were: Nevada (+26.5 percent), California (+21.4 percent), Wyoming (+16.7 percent), Arizona (+16.2 percent) and Georgia (+14.3 percent).
- Including distressed sales, this month only two states posted home price depreciation: Mississippi (-2.1 percent) and Delaware (-1.1 percent).
- Excluding distressed sales, the five states with the highest home price appreciation were: Nevada (+23.6 percent), California (+18.7 percent), Arizona (+14.1 percent), Utah (+13.8 percent) and Florida (+12.7 percent).
- Excluding distressed sales, no states posted home price depreciation in June.
- Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to June 2013) was -19 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -14 percent.
- The five states with the largest peak-to-current declines, including distressed transactions, were Nevada (-44.3 percent), Florida (-38.6 percent), Arizona (-33.9 percent), Rhode Island (-31.7 percent), and Michigan (-31.1 percent).
- Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 99 were showing year-over-year increases in June, up from 98 in May 2013.
*May 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.