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Home Prices Climbed 0.7% in February: CoreLogic

Home prices for non-distressed property sales ticked up 0.7 percent in February from January, even while figures for the same fell by 2 percent year-over-year, according to ""CoreLogic"":http://www.corelogic.com/default.aspx.


The analytics firm said that home prices also marked a seventh straight monthly decline by falling 0.8 percent from January this year.


""House prices, based on data through February, continue to decline, but at a decreasing rate. The deceleration in the pace of decline is a first step toward ultimately growing again,"" ""Mark Fleming"":http://www.imn.org/pages/biography.cfm?personid=1F337A547198, chief economist for CoreLogic, said in a statement. ""Excluding distressed sales, we already see modest price appreciation month over month in January and February.""

Inclusive of distressed sales, the five states that encountered appreciation in their home prices at the fastest clip included Arizona (4.5 percent), Florida (4.7 percent), Michigan (5.8 percent), South Dakota (4.1 percent), and West Virginia (8.6 percent).

The five states that suffered the greatest depreciation in the same category included Connecticut (7.9 percent), Delaware (11.2 percent), Georgia (6.6 percent), Illinois (7.1 percent), and Rhode Island (7.8 percent).

CoreLogic said that 67 Core Based Statistical Areas ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô areas measured by population ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô suffered year-over-year declines in February.

About Author: Ryan Schuette

Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.

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