A report released by CoreLogic shows U.S. home prices increased in June 2011 by 0.7 percent from the month before, marking the third consecutive month-over-month increase. However, U.S. home prices in June 2011 decreased 6.8 percent from the year before. If we take the distressed sales (foreclosures, REO’s and short-sales) then year-over-year home prices declined by 1.1 percent in June 2011 from June 2010.Highlights as of the June 2011 Report –
- Including distressed sales, the five states with the highest appreciation were: New York (+3.3 percent), the District of Columbia (+2.4 percent), North Dakota (+1.2 percent), Alaska (+0.1 percent) and Nebraska (+0.1 percent).
- Including distressed sales, the five states with the greatest depreciation were: Nevada (-12.4 percent), Idaho (-12.3 percent), Arizona (-12.3 percent), Illinois (-12.2 percent) and Minnesota (-9.6 percent).
- Excluding distressed sales, the five states with the highest appreciation were: North Dakota (+5.9 percent), New York (+4.6 percent), West Virginia (+3.6 percent), Texas (+2.8 percent) and Vermont (+2.6 percent).
- Excluding distressed sales, the five states with the greatest depreciation were: Nevada (-9.9 percent), Arizona (-8.0 percent), Mississippi (-7.3 percent), Minnesota (-6.8 percent) and Delaware (-6.7 percent).
- Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to June 2011) was -31.7 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -21.4 percent.
- Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 86 are showing year-over-year declines in June, five less than May.
June HPI for the Country’s Largest Core Based Statistical Areas (CBSAs):
CBSA | June 2011 12 Month HPI Change by CBSA |
|
---|---|---|
Single Family | Single Family Excluding Distressed | |
Chicago-Joliet-Naperville, IL | -13.4% | -4.7% |
Phoenix-Mesa-Glendale, AZ | -11.4% | -7.9% |
Atlanta-Sandy Springs-Marietta, GA | -7.4% | -1.3% |
Los Angeles-Long Beach-Glendale, CA | -6.7% | 1.4% |
Riverside-San Bernardino-Ontario, CA | -6.0% | -3.4% |
Houston-Sugar Land-Baytown, TX | -3.2% | 4.3% |
Philadelphia, PA | -2.9% | -1.8% |
Dallas-Plano-Irving, TX | -0.6% | 3.4% |
Washington-Arlington-Alexandria, DC-VA-MD-WV | 0.4% | 3.3% |
New York-White Plains-Wayne, NY-NJ | 2.0% | 3.5% |
Source: CoreLogic.
June HPI State and National Ranking:
State | June 2011 12 Month HPI Change by State |
|
---|---|---|
Single Family Combined | Single Family Combined Excluding Distressed | |
National | -6.8% | -1.1% |
Nevada | -12.4% | -9.9% |
Arizona | -12.3% | -8.0% |
Idaho | -12.3% | -5.7% |
Illinois | -12.2% | -4.7% |
Minnesota | -9.6% | -6.8% |
Oregon | -8.9% | -3.9% |
Missouri | -8.7% | -3.4% |
Ohio | -8.7% | -0.6% |
Michigan | -8.5% | -5.6% |
Utah | -7.9% | -2.4% |
Florida | -7.6% | -2.0% |
New Mexico | -7.4% | -1.2% |
Georgia | -6.8% | -1.3% |
California | -6.7% | -0.2% |
Alabama | -6.6% | -0.5% |
Washington | -6.5% | -2.4% |
Delaware | -6.4% | -6.7% |
Wisconsin | -5.0% | -2.5% |
Maryland | -4.2% | -0.7% |
New Hampshire | -4.1% | 0.1% |
Kentucky | -3.9% | -1.4% |
Indiana | -3.9% | 0.4% |
Vermont | -3.4% | 2.6% |
Colorado | -3.1% | 0.2% |
Oklahoma | -2.8% | -1.1% |
Pennsylvania | -2.7% | -1.1% |
Kansas | -2.7% | 0.6% |
New Jersey | -2.5% | -2.0% |
Wyoming | -2.5% | 1.3% |
Montana | -2.4% | -1.4% |
Iowa | -2.4% | -0.7% |
Rhode Island | -2.2% | 1.2% |
Hawaii | -2.2% | 2.2% |
Mississippi | -2.1% | -7.3% |
South Carolina | -2.1% | 2.3% |
Texas | -2.1% | 2.8% |
North Carolina | -2.0% | 0.6% |
Louisiana | -2.0% | 1.5% |
Tennessee | -1.9% | 0.8% |
Arkansas | -1.4% | 0.4% |
West Virginia | -1.3% | 3.6% |
Connecticut | -0.4% | 2.1% |
Virginia | -0.3% | 1.7% |
Maine | -0.2% | 1.7% |
South Dakota | -0.1% | -1.9% |
Massachusetts | -0.1% | 1.6% |
Nebraska | 0.1% | 0.2% |
Alaska | 0.1% | 1.0% |
North Dakota | 1.2% | 5.9% |
District of Columbia | 2.4% | 1.7% |
New York | 3.3% | 4.6% |
Source: CoreLogic.
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