Home Prices Rise in September: CoreLogic

Home prices rose 5% in September compared with the same month a year ago, the largest monthly increase since June 2006 according to research firm CoreLogic (NYSE: CLGX). Month-over-month, however, September fell 0.3% compared with August, including distressed home sales. Excluding distressed sales September sales rose 0.5% compared with August, and the year-over-year sales also rose by 5%.

CoreLogic expects October housing prices to rise 5.7% year-over-year and drop by 0.5% month-over-month as the seasonal slowdown in home sales begins. Excluding distressed sales, the year-over-year increase for October is forecast at 6.3% and the month-over-month estimate improves to a rise of 0.2%.

The company's chief economist noted:

While prices on a month-over-month basis are declining, as expected in the housing off-season, most states are exhibiting price increases. Gains are particularly large in former housing bubble states and energy-industry concentrated states.

Including distressed sales, home prices rose the most in Arizona (prices up 18.7%), Idaho (13.1%), Nevada (11%), Hawaii (8.9%), and Utah (8.7%). Excluding distressed sales the biggest gains were posted in Arizona (14%), Idaho (10.5%), Nevada (9.5%), Montana (8.5%) and California (8.4%).

The CoreLogic press release is available here.

Paul Ausick

Filed under: 24/7 Wall St. Wire, Housing, Research Tagged: CGLX, featured
Read Full Story


NASDAQ 7,218.23 -16.08 -0.22%
S&P 500 2,701.33 -14.93 -0.55%
DJIA 24,797.78 -166.97 -0.67%
NIKKEI 225 21,632.81 -338.00 -1.54%
HANG SENG 31,068.98 -362.91 -1.15%
DAX 12,470.49 -17.41 -0.14%
USD (per EUR) 1.23 0.00 -0.01%
USD (per CHF) 0.94 0.00 -0.04%
JPY (per USD) 107.20 -0.36 -0.33%
GBP (per USD) 1.39 0.00 0.02%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.