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"As of July, nominal U.S. home prices declined 10.9 percent from a year ago,” said Mark Fleming, chief economist for First American CoreLogic, “while early August data indicates a 10.8 percent decline from a year ago. This continues the positive trend of no further acceleration in the pace of the rate of decline, a trend similar to what we saw in the Massachusetts and Texas house price declines in the 80’s and 90’s that took approximately two years to bottom out. In both cases the rate of decline stabilized before the lengthy recovery in price levels could begin." Added Fleming: “There is reason now to be cautiously optimistic, because the price decline stabilization we’re observing in this cycle is necessary before any improvement in price levels can occur (more).”
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 7,575 Zip codes, 958 Core Based Statistical Areas (CBSAs), and 676 counties in all 50 states and the District of Columbia.
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| LoanPerformance HPI covers 7,575 ZIP codes, 958 Core Based Statistical
Areas (CBSA) and 676 counties in all 50 states and the District of Columbia
(more). |
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| 12-Month Change By Top CBSAs (Core Based Statistical Areas) as of July 2008 |
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12-Month |
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Change |
| Los Angeles-Long Beach-Glendale, CA |
-27.95% |
| Oakland-Fremont-Hayward, CA |
-27.28% |
| Riverside-San Bernardino-Ontario, CA |
-26.93% |
| Miami-Miami Beach-Kendall, FL |
-25.95% |
| Las Vegas-Paradise, NV |
-25.13% |
| San Diego-Carlsbad-San Marcos, CA |
-23.24% |
| Cape Coral-Fort Myers, FL |
-23.12% |
| Phoenix-Mesa-Scottsdale, AZ |
-22.95% |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL |
-20.97% |
| Orlando-Kissimmee, FL |
-18.02% |
| Tampa-St. Petersburg-Clearwater, FL |
-15.82% |
| San Francisco-San Mateo-Redwood City, CA |
-13.59% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV |
-13.58% |
| Cleveland-Elyria-Mentor, OH |
-11.27% |
| St. Louis, MO-IL |
-10.31% |
| Minneapolis-St. Paul-Bloomington, MN-WI |
-9.09% |
| New York-White Plains-Wayne, NY-NJ |
-7.68% |
| Boston-Quincy, MA |
-7.49% |
| Atlanta-Sandy Springs-Marietta, GA |
-6.93% |
| Seattle-Bellevue-Everett, WA |
-6.90% |
| Honolulu, HI |
-6.73% |
| Detroit-Livonia-Dearborn, MI |
-6.59% |
| Chicago-Naperville-Joliet, IL |
-6.42% |
| Edison-New Brunswick, NJ |
-6.15% |
| Portland-Vancouver-Beaverton, OR-WA |
-4.40% |
| Philadelphia, PA |
-3.78% |
| Denver-Aurora, CO |
-2.21% |
| Charlotte-Gastonia-Concord, NC-SC |
-0.74% |
| Salt Lake City, UT |
1.37% |
| Raleigh-Cary, NC |
1.49% |
| Dallas-Plano-Irving, TX |
2.17% |
| San Antonio, TX |
3.53% |
| Houston-Sugar Land-Baytown, TX |
4.12% |
| Austin-Round Rock, TX |
4.15% |
Source: First American CoreLogic, LoanPerformance HPI, Single Family Detached Series as of July 2008
To view sample HPI reports for the full month of July 2008 plus state and top CBSA-level HPI data through mid-August 2008, please click here (log-in required).
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.
For more about LoanPerformance HPI—including new LoanPerformance National HPI—please consult your representative below:
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New York to Washington DC Corridor/Manhattan North |
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Constance Keim
(973) 226-0084
Email
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Manhattan South |
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Charles DiMascio
(909) 593-0141
Email
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New England |
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Daniel Andrzejek
(415) 536-3553
Email
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Southeast |
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Debra Donan
(908) 304-0263
Email
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Midwest |
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Brian Gunn
(415) 536-3537
Email
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West |
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James Kinnebrew
(415) 536-3523
Email
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International |
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David Shaw
+44 20 8810 7079
Email
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