Dennis Norman
According to a report issued today by CoreLogic, home prices in the U.S. increased in June by 1.4 percent over June 2009. This ends the four-month streak of increasing year-over-year home prices which for May was 3.70 percent.
If you take distressed home sales out of the picture,then home prices in June were up 0.2 percent from a year ago compared with May which was up 0.50 percent from a year ago.
National Highlights as of June 2010
- The top five states with the highest appreciation 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 depreciation 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 appreciation in June were:District of Columbia (+6.3 percent),South Dakota (+6.3 percent),California (+4.4 percent),Mississippi (+3.9 percent),and Maine (+2.7 percent).
- Excluding distressed sales,the top five states with the greatest depreciation in June were:Nevada (-6.8 percent),Arizona (-5.8 percent),Michigan (-4.8 percent),New Mexico (-4.0 percent) and Oregon (-3.4 percent).
- Including distressed transactions,the peak-to-current change in U.S. home prices (from April 2006 to June 2010) is -28.0 percent. Excluding distressed properties,the peak-to-current change for the same period is -20.0 percent.
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This is an interesting topic. We’re always looking for great resources to share with clients and the construction community,and your piece is absolutely worth sharing!