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November home prices down 5% from year ago: CoreLogic

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November home prices fell 5% from the year before, as the path to recovery gets steeper and steeper, according to the CoreLogic (CLGX) home price index. The analytics firm said prices also fell 3.35% from October, as HousingWire previewed last week. Since the peak in April 2006, national home prices have fallen 30%. Other firms are split on where prices will go from here, with Clear Capital forecasting a further decline through 2011 and Altos Research seeing a brighter year. CoreLogic Chief Economist Mark Fleming said even though the November downturn was seasonal, it will still keep a recovery at bay. "We’re continuing to see the influence of seasonal declines that typically depress home prices during the latter part of the year, but the fact that the rate of decline increased for November is indicative of the uphill battle we’re facing with the housing recovery," Fleming said. The steepest drop in prices came in Idaho, where they fell 13.5%. Alabama prices fell 11% and Arizona values dropped 10.3%. Maine saw the highest increase for November at 8.5%, followed a 4.4% uptick in North Dakota and a 3.6% climb in Wyoming. Write to Jon Prior. Follow him on Twitter: @JonAPrior

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