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The MReport Webcast: Wednesday 9/3/2014

With Labor Day ringing in the final weeks of summer, activity in most local housing markets is set to come down from its yearly peak. Based on trend data collected from 2011 through 2013, Trulia reported Tuesday that home searches on its website nationally come in 6 percent below the annual average for the months of September and October as summer transitions into fall.

Among states and the largest U.S. metros, Trulia says the biggest post-summer drop-offs in home searches usually happen in the top warm-weather vacation spots, with parts of the south and southwest seeing double-digit declines. Not all markets are poised for a fall slump, however. While the beaches might empty in the coming months, home searches have shown post-summer growth in parts of New England and in areas of both coasts thanks to warmer, dryer falls and proximity to popular winter vacation areas.

Home price growth accelerated in July on a month-over-month basis even as annual increases continued to slip, according to a market report. CoreLogic's Home Price Index rose 1.2 percent from June to July, the company reported, lifting slightly from June's 1 percent monthly gain. The improvement includes both distressed and non-distressed sales. Compared to a year prior, July's index was up 7.4 percent, barely down from 7.5 percent in June. Looking a year out, CoreLogic predicts home prices, including distressed sales will keeping slowing to 5.7 percent by next July.

About Author: Jordan Funderburk

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