Either toppling current market logic on its head, or demonstrating just how powerful the pull of housing markets in California, Florida, Nevada and Arizona really is -- depending on your viewpoint -- First American CoreLogic said today
that its LoanPerformance Housing Price Index found annual price gains during November in 31 U.S. states.
Of course that means 19 states posted losses annual losses in November (or, at least, were flat), so I suppose perspective matters here. The October HPI found 21 states in such probable decline, by way of comparison, which means your perspective likely comes down to how you choose to interpret a swing of two states.
Honolulu and Salt Lake City were among the nation's largest winners, with each posting 12-month price gains besting 10 percent in November, according to CoreLogic. Among the worst-performing MSAs were California's Inland Empire (Riverside-San Bernardino-Ontario) and the San Diego metropolitan area.
Below is a map of price performance -- click for a larger view.
This is the first month that CoreLogic has presented the LoanPerformance HPI numbers, suggesting a shift in strategy at First American as it looks to bolster the market presence
of its information services operation.
For more information, visit http://www.facorelogic.com