Home prices declined 3.93% in October from the previous three months, the third straight report of declines as any hope for a recovery in early 2011 begins to fade, according to data from CoreLogic (CLGX). Prices slipped 2.8% in September and 1.1% in August. CoreLogic’s Chief Economist Mark Fleming said without the artificial support of the government, the housing market continues to show signs of weakness. “When you combine these factors with high shadow and visible inventories, the prospect for a housing recovery in early 2011 is fading,” Fleming said. Prices dropped 15% in Idaho, the largest decrease in the country for October. They also fell 9.3% in Alabama, 8.5% in Oregon, 8.25% in Arizona and 8% in Florida. Prices appreciated the most, 5.67%, in Wyoming, 5.35% in North Dakota and nearly 3% in New York. Write to Jon Prior.
Home prices down for third straight month: CoreLogic
Most Popular Articles
Latest Articles
Reverse mortgage leaders praise FHA engagement, back-end improvements
At NRMLA Annual, reverse mortgage industry leaders praised the engagement of FHA, Ginnie Mae and officials like Julia Gordon.
-
Despite challenges, dementia patients and caregivers prefer to age in place
-
MoxiWorks poaches two more Onit veterans for leadership roles
-
Housing market recovery threatened by mortgage rate pop
-
MBA, other stakeholders team up to address racial homeownership gap
-
Opendoor hires C-suite leaders in finance, technology roles