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St Louis home prices fall in November at higher rate than U.S. average

Dennis Norman, St Louis REALTOR - U.S. Home Prices - September 2011A report released this morning by CoreLogic, one of the nations leading providers of property information shows that St Louis home prices fell in November 4.7 percent from the year before and declined by 3.8 percent from the month before.  In November, the decline of home prices in St. Louis outpaced U.S. home prices which were down 4.3 percent from a year ago and 1.4 percent from the month before.

National highlights from the report for November 2011:

  • Including distressed sales, the five states with the highest appreciation were: Vermont (+4.3 percent), South Carolina (+2.8 percent), District of Columbia (+2.1 percent), Nebraska (+1.9 percent) and New York (+1.7 percent).
  • Including distressed sales, the five states with the greatest depreciation were: Nevada (-11.2 percent), Illinois (-9.7 percent), Minnesota (-7.8 percent), Georgia (-7.7 percent) and Ohio (-7.2 percent).
  • Excluding distressed sales, the five states with the highest appreciation were: Maine (+4.9 percent), South Carolina (+4.9 percent), Montana (+3.8 percent), Indiana (+3.3 percent) and Louisiana (+2.4 percent).
  • Excluding distressed sales, the five states with the greatest depreciation were: Nevada (-8.8 percent), Arizona (-4.9 percent), Minnesota (-4.7 percent), Idaho (-4.1 percent) and Georgia (-3.6 percent).
  • Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to November 2011) was -32.8 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -23.1 percent.
  • Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 77 are showing year-over-year declines in November, three fewer than in October.

November HPI for the Country’s Largest CBSAs by Population:

CBSA November 2011 12-Month HPI
Change by CBSA
Single Family Single Family Excluding Distressed
Chicago-Joliet-Naperville, IL -10.5% -1.9%
Atlanta-Sandy Springs-Marietta, GA -8.2% -3.5%
Los Angeles-Long Beach-Glendale, CA -5.7% 0.5%
Riverside-San Bernardino-Ontario, CA -5.7% -3.7%
Phoenix-Mesa-Glendale, AZ -4.9% -5.3%
Houston-Sugar Land-Baytown, TX -3.4% 1.0%
Philadelphia, PA -0.7% 0.6%
Dallas-Plano-Irving, TX 0.2% 2.4%
Washington-Arlington-Alexandria, DC-VA-MD-WV 0.2% 2.3%
New York-White Plains-Wayne, NY-NJ 1.3% 1.9%

Source: CoreLogic.

November HPI State and National Ranking:

State November 2011 12-Month HPI
Change by State
Single Family Combined Single Family Combined Excluding Distressed
National -4.3% -0.6%
Nevada -11.2% -8.8%
Illinois -9.7% -2.1%
Minnesota -7.8% -4.7%
Georgia -7.7% -3.6%
Ohio -7.2% 0.3%
Rhode Island -6.3% -3.6%
California -5.9% -0.9%
Arizona -5.8% -4.9%
Idaho -5.8% -4.1%
Washington -5.2% -1.2%
New Hampshire -4.7% -1.2%
Wisconsin -4.6% -2.4%
New Mexico -4.5% -0.9%
Alabama -4.5% 1.7%
Utah -4.4% 0.5%
Delaware -4.3% -2.1%
Missouri -4.2% -1.1%
Massachusetts -3.8% 1.2%
Florida -3.7% -0.7%
Wyoming -3.4% 1.8%
Kentucky -3.1% -0.7%
Oregon -2.6% -1.8%
Maryland -2.4% -0.5%
North Dakota -2.4% 1.4%
New Jersey -2.3% -2.5%
Connecticut -2.2% -1.5%
Maine -2.0% 4.9%
Louisiana -1.7% 2.4%
Hawaii -1.6% -0.5%
Kansas -1.0% 1.6%
North Carolina -0.8% -0.3%
Iowa -0.6% 0.4%
Texas -0.6% 1.9%
Arkansas -0.5% 0.1%
Tennessee -0.5% 0.9%
Michigan -0.2% -3.5%
West Virginia -0.1% -1.8%
Colorado -0.1% 0.8%
Mississippi 0.0% 0.2%
Oklahoma 0.0% 1.0%
Pennsylvania 0.0% 1.4%
Virginia 0.4% 1.8%
Indiana 0.7% 3.3%
Montana 0.9% 3.8%
Alaska 1.2% 1.8%
South Dakota 1.3% 2.4%
New York 1.7% 1.7%
Nebraska 1.9% 2.1%
District of Columbia 2.1% 0.7%
South Carolina 2.8% 4.9%
Vermont 4.3% 1.5%

Source: CoreLogic.

2011 Month HPI Change as of November | Single Family Combined series | Source: CoreLogic

2011 Month HPI Change as of November | Single Family Combined Excluding Distressed series | Source: CoreLogic

2011 Month HPI Change as of November | Single Family Combined Excluding Distressed series | Source: CoreLogic

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