New York state saw one of the nation’s largest increases in home values in December, according to CoreLogic’s monthly home price index report. Including distressed sales, New York experienced the fourth-largest appreciation in home prices, climbing 1.66 percent in December 2010, compared to the same month a year earlier. North Dakota saw the largest gain, with a 5.53 percent year-over-year bump, while Hawaii saw the second-biggest jump, 3.79 percent. New York’s momentum runs counter to nationwide trends, however: overall U.S. home prices declined for the fifth consecutive month, according to the report, down 5.46 percent year-over-year. TRD

U.S. home prices saw a 1.6 percent quarter-over-quarter decline in 2010, according to Clear Capital’s monthly Home Data Index Market Report, released today. But despite the negative quarterly price change, the national index shows that U.S. home prices stopped declining in early January and have posted their first uptick since mid-August 2010, with the New York-Long Island-Northern New Jersey metro market posting a 1.6 percent month-over-month gain in January, and a 3.2 percent year-over-year gain. “This recent national change in price direction is encouraging for the overall housing sector, yet it is still too early to determine whether this current uptick in home prices is a temporary reprieve or the start of a sustained recovery,” said Dr. Alex Villacorta, a senior statistician at Clear Capital. TRD [more]

Home values are falling in many cities across the United States, including New York, which saw a 5.1 percent drop in prices, according to the Wall Street Journal’s latest quarterly survey of housing market conditions. The survey found that prices declined in all of the 28 major metropolitan areas tracked during the fourth quarter of 2010 when compared to a year earlier. As the number of unsold homes increased, inventory levels rose in many markets, particularly in Long Island, which had enough homes on the market at the end of December to last 15 months at the average sales pace. The supply of unsold homes stood at 14 months in Charlotte, N.C., and Nashville, Tenn., and at nearly 13 months for northern New Jersey. Comments

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(Source: S&P/Case-Shiller)

The decline in New York-area home prices quickened in October, dropping 1.6 percent month-over-month, according to the latest S&P/Case-Shiller Home Prices Indices, released this morning. It was the second straight monthly decline for home prices in the region, where September brought a 0.5 percent month-over-month dip. It was trend echoed nationwide, as all 20 cities surveyed registered decreases in their October home prices, when compared to September. “The double-dip is almost here,” Index Committee Chairman David Blitzer said ominously in a statement accompanying the new data. “There is no good news in October’s report.” TRD [more]

Housing experts are predicting a nationwide decline in home prices, according to CNN Money, as weak employment, tight lending and the robo-signing fiasco hamper hopes for a comeback. Analytics firm Fiserv had been optimistic regarding market stabilization earlier this year, predicting in February a 4 percent gain by the end of 2011. Now, the company has reversed its sentiment, saying it foresees a 7.1 percent drop by mid-2011. Mark Zandi, chief economist with Moody’s Analytics, said he expects home prices across the country to be down another 8 percent by this time next year. If Zandi’s prediction comes to fruition, the total peak-to-trough decline would hit 34 percent. [CNN Money]

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Home prices in the U.S. declined for the first time this year, according to the most recent data from CoreLogic’s Home Price Index. National home prices, including distressed sales, declined 1.5 percent in August 2010 compared to August 2009 and increased by .6 percent in July 2010 compared to July 2009, the index shows. Excluding distressed sales, year-over-year prices declined .4 percent in August 2010. New York was one of the top five states with the highest appreciation. “Price declines are geographically expanding as 78 out of the largest 100 metropolitan areas are experiencing declines, up from 58 just one month ago,” said Mark Fleming, chief economist at CoreLogic. TRD

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Home prices in the U.S. declined for the first time this year, according to the most recent data from CoreLogic’s Home Price Index. National home prices, including distressed sales, declined 1.5 percent in August 2010 compared to August 2009 and increased by .6 percent in July 2010 compared to July 2009, the index shows. Excluding distressed sales, year-over-year prices declined .4 percent in August 2010. New York was one of the top five states with the highest appreciation. “Price declines are geographically expanding as 78 out of the largest 100 metropolitan areas are experiencing declines, up from 58 just one month ago,” said Mark Fleming, chief economist at CoreLogic. TRD

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Pending home sales are on the rise, according to the National Association of Realtors, which released its Pending Home Sales Index today for the month of August. The index climbed to 82.3, up 4.3 percent from July. But, despite this monthly improvement, August’s level still sat 20.1 percent below the same month a year earlier, showing that the market is far below historic levels, according to Lawrence Yun, chief economist with NAR. “The pace of a home sales recovery still depends more on job creation and an accompanying rise in consumer confidence,” Yun said. TRD

Real estate professionals and homeowners alike have taken a pessimistic turn in their views about the U.S. housing market, according to a third-quarter survey from home price tracking website HomeGain.com. The survey, which polled roughly 1,100 real estate professionals and 2,600 homeowners, revealed that 90 percent of real estate agents and brokers now believe home prices will [more]

Despite the recent bleak housing news following the expiration of the first-time homebuyer tax credit, pending home sales are showing some stability, according to a National Association of Realtors report released today. The NAR’s Pending Home Sales Index, which calculates the number of signed contracts nationwide, climbed 5.2 percent to 79.4 percent in July, compared to June. Still, July’s index reading was 19.1 percent below the same month a year earlier, leading Lawrence Yun, NAR’s chief economist, to believe that a full recovery may be a long way off. “The recovery looks to be a long process,” Yun said. “For those who bought at or near the peak several years ago… it may take over a decade to fully recover lost equity.” See Yun discuss the housing market above. TRD

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