August home prices decline

CoreLogic, a provider of information, analytics and business services, has reported that home prices in the United States decreased 0.4% on a month-over-month basis, the first monthly decline in four months. According to CoreLogic, national home prices, including distressed sales, also declined on a year-over-year basis by 4.4% in August 2011 compared with August 2010. This follows a decline of 4.8% in July 2011 compared with July 2010.

Excluding distressed sales, year-over-year prices declined by 0.7% in August 2011 compared with August 2010 and by 1.7% in July 2011 compared with July 2010. Distressed sales include short sales and real estate-owned (REO) transactions.

Including distressed sales, the five states with the highest appreciation were: West Virginia (8.6%), Wyoming (3.6%), North Dakota (3.5%), New York (3.2%) and Alaska (2.2%).  

The five states with the greatest depreciation, including distressed sales, were: Nevada (-12.4%), Arizona (-10.7%), Illinois (-9.6%), Minnesota (-7.8%) and Georgia (-7.2%).