Magazine article Mortgage Banking

CoreLogic: Home Prices Flat in July

Magazine article Mortgage Banking

CoreLogic: Home Prices Flat in July

Article excerpt

New data from CoreLogic Inc., Santa Ana, California, found that home prices in the United States remained flat in July as transaction volumes continued to decline.

CoreLogic's Home Price Index (HPI) noted that July marked the first time in five months that no year-over-year gains were reported.

According to the CoreLogic HPI, national home prices--including distressed sales--showed no change in July 2010 compared with July 2009, while the June 2010 HPI showed a 2.4 percent year-over-year gain compared with the same period a year ago.

"Although home prices were flat nationally on a year-over-year basis, the majority of states experienced price declines, and price declines are spreading across more geographies relative to a few months ago," said CoreLogic Chief Economist Mark Fleming. "Home prices fell in 36 states in July on a year-over-year basis--nearly twice the number in May and the highest since last November, when national home prices were declining."

CoreLogic said that the top five states with the highest appreciation, including distressed sales, in July were: Maine (4.5 percent), South Dakota (4. …

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