FOR IMMEDIATE RELEASE
August 16, 2010
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Home Price Index Increases Decelerate in June
SANTA ANA, Calif., August 16, 2010
CoreLogic (NYSE: CLGX), a leading provider ofinformation, analytics and business services, today released its Home Price Index (HPI) whichshows that home prices in the U.S. increased in June, the fifth-consecutive month showing ayear-over-year increase. According to the CoreLogic HPI, national home prices, includingdistressed sales, increased by 1.4 percent in June 2010 compared to June 2009 and increasedby 3.7 percent* in May 2010 compared to May 2009. The June 2.3 percentage point decelerationfrom May is very large by historical standards. The deceleration was most pronounced in moreexpensive and distressed segments of the market. Excluding distressed sales, year-over-yearprices only increased by 0.2 percent in June and May
non-distressed HPI increased by 0.5percent.
Highlights as of June 2010
The top five states with the highest
in June, including distressed sales,were: South Dakota (+6.9 percent), Maine (+6.4 percent), California (+5.9 percent),Virginia (+4.7 percent), and District of Columbia (+4.3 percent).
The top five states with the greatest
in June, including distressed sales,were Idaho (-9.1 percent), Alabama (-3.8 percent), Oregon (-3.5 percent), Washington (-3.4 percent) and New Mexico (-3.2 percent).
Excluding distressed sales, the top five states with the highest
in Junewere: District of Columbia (+6.3 percent), South Dakota (+6.3 percent), California (+4.4percent), Mississippi (+3.9 percent), and Maine (+2.7 percent).
Excluding distressed sales, the top five states with the greatest
in Junewere: Nevada (-6.8 percent), Arizona (-5.8 percent), Michigan (-4.8 percent), NewMexico (-4.0 percent) and Oregon (-3.4 percent).
Including distressed transactions, the peak-to-current change in the national HPI (fromApril 2006 to June 2010) is -28.0 percent. Excluding distressed properties, the peak-to-current change in the HPI for the same period is -20.0 percent.
Home price volatility and collateral risk remain very high. The stabilization phase and policyintervention since the spring of 2009 has run its course. Prices are expected to furthermoderately decline as the economy remains weak through the fall
” said Mark Fleming, chief
economist for CoreLogic.