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Feb 13

Home Prices Declined (again) in December

Nationally home prices declined 1.8% in December according to Core Logic… Their index is down 5.46% over the last year, and off 31.6% from the peak.

This is the fifth straight month of year-over-year declines, and the sixth straight month of month-to-month declines.

The index is only 0.07% above the low set in March 2009 (essentially the low)… A new post-bubble low for this index is expected with the release of their January numbers.

The Good News is…

Valuations during past three years seem to be in a ‘holding’ pattern with the greatest part of home valuations lost between 2007 and 2009. Current valuations hover at about 2004 price levels.

CoreLogic (NYSE: CLGX) provides business and government with analytics, information and outsourcing solutions. www.corelogic.com   

The graph shows the national CoreLogic yearly data since 1976 with January 2000 = 100.

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