Vermont, US home prices continue decline

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Vermont, US home prices continue decline

Wed, 03/07/2012 - 8:24am -- tim

Vermont home prices declined more rapidly than most states as home prices nationwide saw some relief over the last month, but continued to decline. Vermont prices fell 3.8 percent in January compared to a loss of 3.1 percent nationally. CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its January Home Price Index (HPI) report, the most timely and comprehensive source of home prices available today. The report shows national home prices, including distressed sales, declined on a year-over-year basis by 3.1 percent in January 2012 and by 1.0 percent compared to December 2011, the sixth consecutive monthly decline.
Excluding distressed sales, year-over-year prices declined by 0.9 percent in January 2012 compared to January 2011, but that same metric posted a month-over-month gain, rising 0.7 percent in January. Distressed sales include short sales and real estate owned (REO) transactions.    
"Although home price declines are slowly improving and not far from the bottom, home prices are down to nearly the same levels as 10 years ago," said Mark Fleming, chief economist for CoreLogic.
Highlights as of January 2012

Including distressed sales, the five states with the highest appreciation were:  South Dakota (+5.7 percent), North Dakota (+4.0 percent), West Virginia (+4.0 percent), Montana (+3.6 percent) andMichigan (+3.0 percent).
Including distressed sales, the five states with the greatest depreciation were: Illinois (-8.7 percent),Nevada (-8.0 percent), Delaware (-7.9 percent), Alabama (-7.7 percent) and Georgia (-7.5 percent).
Excluding distressed sales, the five states with the highest appreciation were: South Dakota (+6.4 percent), Montana (+5.9 percent), North Dakota (+3.8 percent), Alaska (+3.7 percent) and Indiana(+2.7 percent).
Excluding distressed sales, the five states with the greatest depreciation were: Nevada (-6.7 percent), Delaware (-5.5 percent), Minnesota (-4.1 percent), New Jersey (-3.5 percent) and Georgia(-3.3 percent).
Including distressed transactions, the peak-to-current change in the national HPI (from April 2006to January 2012) was -34.0 percent.  Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -24.2 percent. 
The five states with the largest peak-to-current declines including distressed transactions areNevada (-60.1 percent), Arizona (-50.8 percent), Florida (-49.0 percent), California (-43.6 percent) and Michigan (-43.2 percent).
Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 71 are showing year-over-year declines in January, eight fewer than in December. 

*December data was revised.  Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.  
January State and National Ranking Based on HPI Including Distressed:

 

January 2012 12-Month HPI

State

 Change by State

 

Single Family

Single Family
Excluding Distressed

National

-3.1%

-0.9%

Illinois

-8.7%

-2.6%

Nevada

-8.0%

-6.7%

Delaware

-7.9%

-5.5%

Alabama

-7.7%

-2.3%

Georgia

-7.5%

-3.3%

Wyoming

-6.0%

1.0%

Ohio

-5.6%

-1.1%

Rhode Island

-5.6%

-0.8%

Minnesota

-5.1%

-4.1%

Connecticut

-4.8%

-2.8%

California

-4.8%

-0.9%

Washington

-4.8%

-1.1%

Vermont

-3.8%

-0.9%

Louisiana

-3.6%

1.6%

New Jersey

-3.3%

-3.5%

Wisconsin

-3.0%

-1.4%

Missouri

-2.8%

-2.6%

New Mexico

-2.6%

-1.5%

Maryland

-2.5%

-2.0%

Maine

-2.3%

2.2%

Pennsylvania

-2.2%

-1.2%

Oregon

-2.1%

-0.9%

Massachusetts

-2.0%

1.4%

Tennessee

-1.5%

-0.6%

Kentucky

-1.4%

-0.8%

Iowa

-1.3%

-1.0%

Kansas

-1.2%

0.9%

Oklahoma

-1.0%

0.1%

Idaho

-0.5%

-1.7%

Texas

-0.4%

1.9%

New Hampshire

-0.2%

1.7%

Utah

-0.1%

1.7%

Indiana

-0.1%

2.7%

Colorado

0.1%

1.8%

Hawaii

0.1%

0.6%

Arkansas

0.2%

-0.9%

North Carolina

0.3%

0.9%

Virginia

0.4%

1.4%

Arizona

0.6%

-1.4%

Mississippi

1.2%

-0.7%

New York

1.4%

1.5%

District of Columbia

1.6%

0.6%

Nebraska

1.7%

1.4%

Florida

1.8%

1.2%

Alaska

2.2%

3.7%

South Carolina

2.8%

1.6%

Michigan

3.0%

0.2%

Montana

3.6%

5.9%

North Dakota

4.0%

3.8%

West Virginia

4.0%

2.7%

South Dakota

5.7%

6.4%

January HPI for the Country's Largest CBSAs by Population: 

 

January 2012 12-Month HPI

CBSA

 Change by CBSA

 

Single Family

Single Family  Excluding Distressed

Chicago-Joliet-Naperville, IL

-8.5%

-2.4%

Atlanta-Sandy Springs-Marietta, GA

-7.4%

-2.6%

Los Angeles-Long Beach-Glendale, CA

-5.0%

0.3%

Riverside-San Bernardino-Ontario, CA

-4.0%

-2.0%

Philadelphia, PA

-1.9%

0.2%

Houston-Sugar Land-Baytown, TX

-0.8%

3.6%

New York-White Plains-Wayne, NY-NJ

0.5%

1.1%

Washington-Arlington-Alexandria, DC-VA-MD-WV

0.7%

2.1%

Dallas-Plano-Irving, TX

1.0%

2.1%

Phoenix-Mesa-Glendale, AZ

2.5%

0.3%

Source: CoreLogic.
SANTA ANA, Calif., March 7, 2012 /PRNewswire/ --