CoreLogic Home Price Index Shows Decline for Second Straight Month

Real Estate Industry and Trade Media

Bill Campbell
Campbell Lewis Communications
(212) 995-8057
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Lori Guyton
Crosby-Volmer
(901) 277-6066
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November 17, 2010, Santa Ana, Calif. –

September Home Prices Declined 2.79 Percent Year Over Year

CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its September Home Price Index (HPI) that shows that home prices in the U.S. declined for the second month in a row after rising slightly for the first seven months of the year. According to the CoreLogic HPI, national home prices, including distressed sales, declined 2.79 percent in September 2010 compared to September 2009 and declined by 1.08 percent* in August 2010 compared to August 2009. Excluding distressed sales, year-over-year prices declined .73 percent in September 2010.

Highlights as of September 2010

  • The top five states with the highest appreciation, including distressed sales, were: New York (+2.67 percent), North Dakota (+1.73 percent), California (+.86 percent), Nebraska (+.78 percent), and Virginia (+.77percent).
  • The five states with the greatest depreciation, including distressed sales, were Idaho (-14.04 percent), Alabama (-8.9 percent), Mississippi (-8.3 percent), Florida (-7.68 percent) and New Mexico (-7.47 percent).
  • Excluding distressed sales, the top five states with the highest appreciation were: New York (+3.82 percent), North Dakota (+3.19 percent), Rhode Island (+1.71 percent), Vermont (+1.64 percent), and Alaska (+1.53 percent).
  • Excluding distressed sales, the five states with the greatest depreciation were: Idaho (-11.06 percent), Nevada (-6.86 percent), Arizona (-6.01 percent), Michigan (-5.67 percent) and Oregon (-4.61 percent).
  • Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to September 2010) is -29.13 percent. Excluding distressed properties, the peak-to-current change in the HPI for the same period is -19.96 percent.

“We’re continuing to see price declines across the board with all but seven states seeing a decrease in home prices,” said Mark Fleming, chief economist for CoreLogic. “This continued and widespread decline will put further pressure on negative equity and stall the housing recovery.” Full-month September 2010 national, state-level and top CBSA-level data can be found at http://www.corelogic.com/about-us/researchtrends/home-price-index.aspx.

About CoreLogic
CoreLogic (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 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. Formerly the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2 billion. For more information visit www.corelogic.com.

Source: CoreLogic.
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