Report shows home prices fell in October; third consecutive month of home price declines

A report released this morning by CoreLogic, one of the nations leading providers of property information shows that home prices in the U.S. fell in October 3.9 percent from the year before and declined by 1.3 percent from the month before marking the third consecutive monthly decline in home prices.

Highlights from the report for October 2011:

• Including distressed sales, the five states with the highest appreciation were: West Virginia (+4.8 percent), South Dakota (+3.1 percent), New York (+3.0 percent), District of Columbia (+2.4 percent) and Alaska (+2.1 percent).
• Including distressed sales, the five states with the greatest depreciation were: Nevada (-12.1 percent), Illinois (-9.4 percent), Arizona (-8.1 percent), Minnesota (-7.9 percent) and Georgia (- 7.3 percent).
• Excluding distressed sales, the five states with the highest appreciation were: South Carolina (+4.6 percent), Maine (+3.1 percent), New York (+3.1 percent), Alaska (+2.9 percent) and Kansas (+2.8 percent).
• Excluding distressed sales, the five states with the greatest depreciation were: Nevada (-8.8 percent), Arizona (-7.0 percent), Minnesota (-5.7 percent), Delaware (-3.9 percent) and Georgia (- 3.6 percent).
• Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to October 2011) was -32.0 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -22.4 percent.
• Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 78 are showing year-over-year declines in October, two fewer than in September.

HPI for the Country’s Largest Core Based Statistical Areas (CBSAs):

Source: CoreLogic