Loan Performance HPI Monthly Data Update
 
National Resale Prices Fell 11.6 Percent in Past Year

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Double-Digit, Year-over-year Home Price Declines Continued in January

Highlights of LoanPerformance HPI January 2009 data:

  • National resale housing prices fell 11.6 percent in January from a year ago.
  • The number of metropolitan markets experiencing price declines was, by far, the highest level tracked by the LoanPerformance HPI. As of January 2009, more than 700, or nearly three-quarters, of all metropolitan markets were experiencing home price depreciation, up from 254 markets experiencing depreciation in December 2007 and 394 in June 2008.
  • The composition of the top 5 markets began to shift in January as Nevada (-26.9%) became the top ranked state for price depreciation, displacing California (-26.7%), which had led the nation in price depreciation since May 2007. Arizona (-21.3%) remained the third ranked state in terms of price depreciation, but Rhode Island (-19.7%) edged out Florida (-19.5%) and now ranks 4th in the nation in terms of price declines.
  • Since U.S. home prices peaked in July 2006, they have declined 21.2 percent on a cumulative basis and are currently back to the lowest price level since March 2004.

"Home prices nationally continue to fall, and are no longer confined to just the ‘sand’ states. Nearly three quarters of all CBSAs are now experiencing declines, almost three times more than a year ago." said Mark Fleming, chief economist for First American CoreLogic. "The economic downturn and high levels of distressed housing inventory," he continued, "means that the likelihood of a price recovery will not begin until 2010 (more)."

Most Current, Most Comprehensive HPI Data

LoanPerformance HPI monthly updates offer the quickest HPI collateral valuation information in the industry—complete HPI datasets five weeks after month’s end plus key indices for the two weeks after that—and leverage the full authority of First American CoreLogic’s industry-leading real estate databases, covering 7,649 Zip codes, 958 Core Based Statistical Areas (CBSAs), and 676 counties in all 50 states and the District of Columbia.

12-Month HPI Change  
LoanPerformance HPI covers 7,649 ZIP codes, 958 Core Based Statistical Areas (CBSA) and 676 counties in all 50 states and the District of Columbia (more).  

LoanPerformance National HPI 12 Month Change: - 11.6%, Single Family Detached Series, January 2009

12-Month Change By Top CBSAs (Core Based Statistical Areas) as of January 2009
  12-Month
  Change
Riverside-San Bernardino-Ontario CA
-29.62%
Miami-Miami Beach-Kendall FL
-28.79%
Las Vegas-Paradise NV
-28.41%
Oakland-Fremont-Hayward CA
-27.73%
Cape Coral-Fort Myers FL
-27.23%
Los Angeles-Long Beach-Glendale CA
-25.14%
Phoenix-Mesa-Scottsdale AZ
-24.26%
Fort Lauderdale-Pompano Beach-Deerfield Beach FL
-23.48%
San Diego-Carlsbad-San Marcos CA
-21.99%
Orlando-Kissimmee FL
-20.96%
Tampa-St. Petersburg-Clearwater FL
-18.05%
San Francisco-San Mateo-Redwood City CA
-15.12%
Washington-Arlington-Alexandria DC-VA-MD-WV
-14.77%
Chicago-Naperville-Joliet IL
-13.12%
Portland-Vancouver-Beaverton OR-WA
-11.62%
Seattle-Bellevue-Everett WA
-11.48%
Minneapolis-St. Paul-Bloomington MN-WI
-11.10%
Honolulu HI
-10.82%
Edison-New Brunswick NJ
-9.34%
New York-White Plains-Wayne NY-NJ
-8.46%
Boston-Quincy MA
-7.25%
St. Louis MO-IL
-5.85%
Cleveland-Elyria-Mentor OH
-4.84%
Charlotte-Gastonia-Concord NC-SC
-4.38%
Atlanta-Sandy Springs-Marietta GA
-3.58%
Detroit-Livonia-Dearborn MI
-3.44%
Raleigh-Cary NC
-3.38%
Salt Lake City UT
-2.95%
Philadelphia PA
-2.85%
San Antonio TX
-1.10%
Denver-Aurora CO
0.97%
Dallas-Plano-Irving TX
1.54%
Houston-Sugar Land-Baytown TX
3.58%
Austin-Round Rock TX
3.92%

Source: First American CoreLogic, LoanPerformance HPI, Single Family Detached Series as of January 2009

Sample Reports
To view sample HPI reports for the full month of January 2009 plus state and top CBSA-level HPI data through mid-February 2009, please click here (log-in required).

Complete HPI Data Available Online or by FTP
LoanPerformance HPI data is available online via the powerful data/analytics application LoanPerformance HPI or as text data via FTP for use in proprietary systems.

More Information
For more about LoanPerformance HPI—including new LoanPerformance National HPI—please consult your representative below:

LoanPerformance Regional Managers

  New York to Washington DC Corridor/Manhattan North
  Constance Keim
(973) 226-0084 Email
 
  Southeast/Manhattan South
  Debra Donan
(908) 304-0263 Email
 
  New England
  Daniel Andrzejek
(415) 536-3553 Email
 
  Southwest/Southern California
  Charles DiMascio
(909) 593-0141 Email
 
  Midwest
  Brian Gunn
(415) 536-3537 Email

John Kleis
(262) 378-4062 Email
 
  West/Northern California
  Walter Allen
(916) 438-3728 Email
 
  Federal Home Loan Banks
  James Kinnebrew
(415) 536-3523 Email
 
  International
  David Shaw
+44 20 8810 7079 Email

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