Sunday , 20 April 2014
REEW Launches New Site! - Latest Articles:
Home » Beyond Today's News » January Prices Plunged in Illinois
In another sign that the nexus of national foreclosure activity is shifting to the Midwest, Illinois led the nation in price declines in January with an 8.7 percent plunge in median sale price from a year ago. Next biggest losers were Nevada (-8.0 percent), Delaware (-7.9 percent), Alabama (-7.7 percent) and Georgia (-7.5) percent.

January Prices Plunged in Illinois

In another sign that the nexus of national foreclosure activity is shifting to the Midwest, Illinois led the nation in price declines in January with an 8.7 percent plunge in median sale price from a year ago. Next biggest losers were Nevada (-8.0 percent), Delaware (-7.9 percent), Alabama (-7.7 percent) and Georgia (-7.5) percent.

CoreLogic’s January Home Price Index report found that 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) and Michigan (+3.0 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 2006 to 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 are Nevada (-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

One comment

  1. Got bait n switched, fppiled out of your equity with threats and fake accusations, have an escrow tab that didn’t renew hazard policy, but added one for them, after scammed into ARM that was never useful correctly from onset.etc, BUT, you sacrificed copious life extravagance (like meds, doctors, all entertainment like expensive cruses uh, I mean renting videos), to keep up your mortgage payments, which you did!(that makes 32 years for me)Apply for HAMP; kiss your house sanity g’bye

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>