CoreLogic: Franklin area home prices drop 4.51%
CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its November Home Price Index (HPI) which shows that home prices in the U.S. declined for the fourth month in a row.
In Nashville-Davidson--Murfreesboro--Franklin, home prices, including distressed sales, declined by -4.51 percent in November 2010 compared to November 2009. Excluding distressed transactions, year-over-year HPI for November is -2.86 percent.
According to the CoreLogic HPI, national home prices, including distressed sales, declined by 5.07 percent in November 2010 compared to November 2009 and declined by 3.35 percent* in October 2010 compared to October 2009.
Excluding distressed sales, year-over-year prices declined by 2.21 percent in November 2010 compared to November 2009 and declined by 2.24* in October 2010 compared to October 2009. Distressed sales include short sales and real estate owned (REO) transactions.
National Highlights as of November 2010
Including distressed sales, the five states with the highest appreciation were: Maine (+8.58 percent), North Dakota (+4.41 percent), Wyoming (+3.67 percent), New York (+2.07 percent) and Vermont (+1.78 percent).
Including distressed sales, the five states with the greatest depreciation were: Idaho (-13.56 percent), Alabama (-11.18 percent), Arizona (-10.38 percent), Oregon (-9.26 percent) and Mississippi (-8.37 percent).
Excluding distressed sales, the five states with the highest appreciation were: Wyoming (+6.47 percent), North Dakota (+4.91 percent), Maine (+4.46 percent), New York (+3.96 percent), and District of Columbia (+3.54 percent).
Excluding distressed sales, the five states with the greatest depreciation were: Idaho (-10.42 percent), Alabama (-7.82 percent), Arizona (-7.81 percent), Nevada (-6.13 percent) and Washington (-6.05 percent).
Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to November 2010) was -30 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -21.7 percent.
"We're continuing to see the influence of seasonal declines that typically depress home prices during the latter part of the year, but the fact that the rate of decline increased for November is indicative of the uphill battle we're facing with the housing recovery," said Mark Fleming, chief economist for CoreLogic.
Full-month November 2010 national, state-level and top CBSA-level data can be found at http://www.corelogic.com/About-Us/ResearchTrends/Home-Price-Index.aspx.
*October 2010 data, including distressed sales, was revised from a decline of 3.93 percent to a decline of 3.35 percent. October 2010 data, excluding distressed sales, was revised from a decline of 1.5 percent to a decline of 2.24 percent. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.







