Today, CoreLogic released its December Home Price Index (HPI) showing that home prices in the U.S. declined for the fifth-straight month. The report shows home prices declined by 5.46 percent in December 2010 compared with December 2009.
St. Louis home prices fell by 8.74 percent in December 2010 compared with December 2009, a decline of over 60 percent higher than the national home price decline. Home prices for the state of Missouri fell 8.82 percent during the period, slightly higher than St. Louis and high enough to put Missouri at number 5 in the country for home price declines for the period. Ugh..
Other Report Highlights:
- The five states with the highest price increases in December, compared with the year before, were: North Dakota (+5.53 percent), Hawaii (+3.79 percent), West Virginia (+3.74 percent), New York (+1.66 percent) and Vermont (+0.65 percent).
- The five states with the greatest price declines for the period were: Idaho (-14.61 percent), Alabama (-13.14 percent), Arizona (-10.94 percent), Oregon (-9.61 percent) and Missouri (-8.82 percent).
- If we take the distressed sales out of the picture, the five states with the highest price increases were: Hawaii (+6.15 percent), North Dakota (+6.03 percent), West Virginia (+3.53 percent), New York (+3.27 percent), and District of Columbia (+2.64 percent).
- Again, excluding distressed sales, the five states with the largest price declines were: Idaho (-10.41 percent), Alabama (-8.72 percent), Arizona (-7.09 percent), Oregon (-6.30 percent) and Washington (-5.75 percent).
- Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to December 2010) was -31.6 percent.