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Distressed Homes Lower the Price of Homes Nationwide

April 7th, 2011 Comments off

According to HousingWire, the falling of home prices for the seventh straight month represents the downward pull of distressed homes in the market.  The statistics from CoreLogic show with that segment in the equation, prices fell in February 6.7 percent over February a year ago.  Remove that segment and the drop was only 0.1 percent when comparing Feb. 2010 to Feb. 2011.  West Virginia had the highest price increase at 4.75 percent, followed by New York, North Dakota, Maine and Alaska.  Idaho saw the highest price depreciation at 14.6 percent, followed by double-digit decline in Arizona, Florida, Michigan and Illinois.  CoreLogic says the only statistical area that showed positive growth for the twelve months Feb. 2010 to Feb. 2011 was the New York/New Jersey metropolitan area which registered plus .8 percent.