SEATTLE NEWS ARCHIVES & FEATURES
CoreLogic’s index shows home prices rise again
Jun 30, 2011, 9:10 AM | Updated: Mar 4, 2016, 5:59 am
CoreLogic’s May Home Price Index (HPI) revealed that home prices in the U.S. increased on a month-over-month basis for the second consecutive month.
According CoreLogic, a provider of information, analytics and business services, national home prices (including distressed sales) increased by 0.8 percent in May 2011 compared to April 2011.
“Two consecutive months of month-over-month growth and continued relative strength in the non-distressed market segment are positive seasonal signs in the housing market,” said Mark Fleming, chief economist for CoreLogic. “Slowly declining shadow inventory and stabilized negative equity levels are also positive signs. Nonetheless, the fragile economic recovery is still critical to the long-term recovery in the housing market.”
On a year-over-year basis, home prices declined by 7.4 percent in May 2011 compared to May 2010 after declining by 6.7 percent in April 2011 compared to April 2010.
Excluding distressed sales, year-over-year prices declined by 0.4 percent in May 2011 compared to May 2010 and by 0.8 percent in April 2011 compared to April 2010. Distressed sales include short sales and real estate owned (REO) transactions.
