Home prices in the U.S. increased by 0.7 percent in June 2011 compared to May 2011, the third consecutive month-over-month increase. According to CoreLogic, national home prices, including distressed sales, declined by 6.8 percent in June 2011 compared to June 2010 after declining by 6.7 percent* in May 2011 compared to May 2010. Excluding distressed sales, year-over-year prices declined by 1.1 percent in June 2011 compared to June 2010 and by 2.1* percent in May 2011 compared to May 2010. Distressed sales include short sales and real estate owned (REO) transactions.

Highlights as of June 2011

  • Including
    distressed sales, the five states with the highest appreciation were: New York
    (+3.3 percent), the District of Columbia (+2.4 percent), North Dakota (+1.2
    percent), Alaska (+0.1 percent) and Nebraska (+0.1 percent).
  • Including
    distressed sales, the five states with the greatest depreciation were: Nevada
    (-12.4 percent), Idaho (-12.3 percent), Arizona (-12.3 percent), Illinois (-12.2
    percent) and Minnesota (-9.6 percent).
  • Excluding
    distressed sales, the five states with the highest appreciation were: North
    Dakota (+5.9 percent), New York (+4.6 percent), West Virginia (+3.6 percent),
    Texas (+2.8 percent) and Vermont (+2.6 percent).
  • Excluding
    distressed sales, the five states with the greatest depreciation were: Nevada
    (-9.9 percent), Arizona (-8.0 percent), Mississippi (-7.3 percent), Minnesota
    (-6.8 percent) and Delaware (-6.7 percent).
  • Including
    distressed transactions, the peak-to-current change in the national HPI (from
    April 2006 to June 2011) was -31.7 percent. Excluding distressed transactions,
    the peak-to-current change in the HPI for the same period was -21.4 percent.
  • Of
    the top 100 Core Based Statistical Areas (CBSAs) measured by population, 86 are
    showing year-over-year declines in June, five less than May.

“While there is a consistent and sustained seasonal improvement in prices over the last three months, prices are lower than a year ago due to the decline in prices after the expiration of the tax credit last year,” said Mark Fleming, chief economist with CoreLogic. “The difference between the overall HPI and our index excluding distressed sales indicates that the price declines are more concentrated in the distressed sales market.”

*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.

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Most Current, Most Comprehensive HPI Data

CoreLogic HPI monthly updates offer the quickest HPI collateral valuation information in the industry-complete HPI datasets five weeks after month’s end-and leverage the full authority of CoreLogic’s industry-leading real estate databases, covering 6,534 Zip codes, 608 Core Based Statistical Areas (CBSAs), and 1,129 counties in all 50 states and the District of Columbia.

12-Month HPI Change
CoreLogic
HPI covers 6,534 ZIP codes, 608 Core Based Statistical Areas (CBSA) and 1,129
counties in all 50 states and the District of
Columbia.

HPI
for the Country’s Largest Core Based Statistical Areas (CBSAs):

June
2011
12-Month HPI
Change
by CBSA
CBSA
Single
Family
Single
Family
Excluding
Distressed
Chicago-Joliet-Naperville
IL
-13.4%
-4.7%
Phoenix-Mesa-Glendale,
AZ
-11.4%
-7.9%
Atlanta-Sandy
Springs-Marietta, GA
-7.4%
-1.3%
Los
Angeles-Long Beach-Glendale, CA
-6.7%
1.4%
Riverside-San
Bernardino-Ontario, CA
-6.0%
-3.4%
Houston-Sugar
Land-Baytown, TX
-3.2%
4.3%
Philadelphia
PA
-2.9%
-1.8%
Dallas-Plano-Irving,
TX
-0.6%
3.4%
Washington-Arlington-Alexandria,
DC-VA-MD-WV
0.4%
3.3%
New
York-White Plains-Wayne, NY-NJ
2.0%
3.5%

Source:
CoreLogic