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National home prices, including distressed sales, declined by -7.8 percent in October 2009 compared to October 2008, according to First American CoreLogic and its LoanPerformance Home Price Index
(HPI). This was an improvement over September’s year-over-year price decline of -9.5 percent.* On a
month-over-month basis, however, national home prices declined by -0.7 percent in October 2009
compared to September 2009.
- Including distressed transactions, the HPI has fallen -30.1 percent from its peak in April 2006. Excluding distressed properties, the national HPI has fallen -21.5 percent from the same peak.
- When distressed sales were included Nevada (-24.3 percent) remained the top-ranked state for
annual price depreciation followed by Arizona (-17.3 percent), Florida (-15.5 percent), Michigan
(-13.9 percent) and Idaho (-12.1 percent). Of these, Nevada, Florida and Michigan also showed
month-over-month decreases in their HPI.
- Excluding distressed sales, the worst five states for year-over-year price declines changes
slightly. Nevada (-20.2 percent) still holds the top spot, followed by Arizona (-14.7 percent),
Florida (-13.7 percent), West Virginia (-10.4 percent) and Washington (-9.4 percent).
"We are continuing to see improvements in the year-over-year home price change as prices have remained relatively stable since April," said Mark Fleming, chief economist for First American CoreLogic. "The crutches of government support for the housing market have stimulated demand and restricted supply in 2009. How these government supports are removed in 2010 will be critical to the continued stability of the housing market (more)."
*September’s decline was revised downward from –9.8 percent to –9.5 percent to reflect updated public record data. Revisions with public record data are standard, and to ensure accuracy, First American CoreLogic incorporates the newly released public data to provide updated results.
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 6,070 Zip codes, 519 Core Based Statistical Areas (CBSAs), and 898 counties in all 50 states and the District of Columbia.
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| LoanPerformance HPI covers 6,070 ZIP codes, 519 Core Based Statistical
Areas (CBSA) and 898 counties in all 50 states and the District of Columbia
(more). |
|
| CBSA |
Single
Family
Combined |
Single Family
Combined
Excluding
Distressed |
Single Family
Combined |
Single Family
Combined
Excluding
Distressed |
| Houston-Sugar Land-Baytown TX |
4.48% |
0.73% |
2.90% |
4.25% |
| Dallas-Plano-Irving TX |
-1.66% |
-1.82% |
1.34% |
2.23% |
| Washington-Arlington-Alexandria DC-VA-MD-WV Metropolitan Division |
-3.06% |
-3.90% |
2.43% |
1.20% |
| Philadelphia PA Metropolitan Division |
-5.67% |
-5.21% |
-0.70% |
0.01% |
| Atlanta-Sandy Springs-Marietta GA |
-7.24% |
-6.21% |
0.06% |
-1.90% |
| Los Angeles-Long Beach-Glendale CA |
-10.79% |
-7.31% |
4.95% |
5.01% |
| New York-White Plains-Wayne NY-NJ |
-11.10% |
-7.74% |
0.43% |
2.29% |
| Chicago-Naperville-Joliet IL |
-12.31% |
-9.63% |
1.33% |
0.65% |
| Miami-Miami Beach-Kendall FL |
-15.46% |
-13.68% |
-0.69% |
0.70% |
| Detroit-Livonia-Dearborn, MI |
-16.82% |
-12.21% |
-13.54% |
-10.05% |
Source: First American CoreLogic, LoanPerformance HPI, Single-Family Combined (Detached and Attached) as of October, 2009.
To view sample HPI reports for the full months of October 2009 plus state and top CBSA-level HPI data, 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 |
| |
Constance Keim
(973) 226-0084
Email
|
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| |
Southeast/Manhattan South |
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Debra Donan
(908) 304-0263
Email
|
| |
| |
New England |
| |
Daniel Andrzejek
(415) 536-3553
Email
|
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Southwest/Southern California |
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Charles DiMascio
(909) 593-0141
Email
|
| |
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Midwest and Canada |
| |
Brian Gunn
(415) 536-3537
Email
John Kleis
(262) 378-4062
Email
|
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West/Northern California |
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Walter Allen
(916) 431-2629
Email
|
| |
| |
Federal Home Loan Banks |
| |
James Kinnebrew
(415) 536-3523
Email
|
| |
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International |
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David Shaw
+44 845 527 1799
Email
|
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