National home prices inch up in July

CoreLogic released its July Home Price Index (HPI) which shows that home prices in the U.S. increased for the fourth consecutive month, inching up 0.8% on a month-over-month basis.

 

 

 

 

 

 

 

 

 

 

 

Home prices were:

  • Up 0.8% in July
  • Down 5.2% over the last year
  • Off 30.6% from the peak
  • Up 5.5% from the March 2011 low.

On a year-over-year basis national home prices, including distressed sales, declined by 5.2 % in July 2011 compared to July 2010. In June 2011, prices declined by 6.0% compared to June 2010.

As Mark Fleming, chief economist for CoreLogic, noted, some of this increase is seasonal. Month-to-month prices will probably turn negative later this year (the normal seasonal pattern).

Calculated Risk, August 31, 2011

 

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