Vermont shows increase in home prices

first_imgVermont ranks fifth in the nation home price increase from June to May. CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its June Home Price Index (HPI) which shows that 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. “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. 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,” said Mark Fleming, chief economist for CoreLogic.Highlights as of June 2011Including 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 2006to 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.  Full-month June 2011 national, state-level and top CBSA-level data can be found athttp://www.corelogic.com/About-Us/ResearchTrends/Home-Price-Index.aspx(link is external)*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.  MethodologyThe CoreLogic HPI incorporates more than 30 years worth of repeat sales transactions, representing more than 65 million observations sourced from CoreLogic industry-leading property information and its securities and servicing databases. The CoreLogic HPI provides a multi-tier market evaluation based on price, time between sales, property type, loan type (conforming vs. nonconforming), and distressed sales. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time, which provides a more accurate “constant-quality” view of pricing trends than basing analysis on all home sales. The CoreLogic HPI provides the most comprehensive set of monthly home price indices and median sales prices available covering 6,534 ZIP codes (59 percent of total U.S. population), 608 Core Based Statistical Areas (86 percent of total U.S. population) and 1,129 counties (84 percent of total U.S. population) located in all 50 states and the District of Columbia.  About CoreLogicCoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2010 revenues of $1.6 billion. For more information visit www.corelogic.com(link is external). Source:  CoreLogic SANTA ANA, Calif., Aug. 3, 2011 /PRNewswire/ —last_img

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