U.S. home prices show slight uptick for third straight month

New York /
Aug.August 03, 2011 12:46 PM
alternate
text

U.S. home prices are incrementally increasing, but that appears to be a seasonal shift as prices remain far below levels of a year ago. According to the June Home Price Index released today by analytics firm CoreLogic, nationwide single-family housing prices gained 0.7 percent in June compared to May, marking the third consecutive month-over-month gain in prices.

But prices are still down 6.8 percent from June 2010, an even worse decline than the 6.7 percent experienced from May 2010 to May 2011. That suggests the increase is almost entirely due to seasonality. “While there is a consistent and sustained seasonal improvement in prices over the last three months,” said Mark Fleming, CoreLogic’s chief economist, “prices are lower than a year ago due to the decline in prices after the expiration of the tax credit last year.”

The New York-White Plains-Wayne NY/NJ market performed best in CoreLogic’s report, as prices increased 2 percent year-over-year. Of major metropolis markets, Washington, D.C. was the only other one to show a price increase, at 0.4 percent. New York was also the best performing state in the report as prices rose 3.3 percent over the prior year. — Adam Fusfeld


Related Articles

arrow_forward_ios
(Getty; Illustration by The Real Deal)
Agents: Life is good under 7%
Agents: Life is good under 7%
Coach Realtors' Mary Alice Ruppert (Coach Realtors Associate, Getty)
Sellers relent: Long Island home price cuts at 3-year high
Sellers relent: Long Island home price cuts at 3-year high
(Getty; Illustration by Kevin Rebong for The Real Deal)
Investor home purchases plummet 30%
Investor home purchases plummet 30%
From left: Peter Hungerford, Shai Segev, and Michelle Haruvi (Getty, LinkedIn, Zillow)
She wanted a piece of the Haruvi empire. She got an eviction notice instead
She wanted a piece of the Haruvi empire. She got an eviction notice instead
Home sales plummet in October
Existing home sales sink for ninth straight month
Existing home sales sink for ninth straight month
Housing Market, Residential Real Estate, Home Builders
Housing starts continue to fall amid mortgage rate peak
Housing starts continue to fall amid mortgage rate peak
Homeward CEO Tim Heyl (Homeward, Illustration by The Real Deal with Getty)
Power buyer Homeward cuts another 25% of staff
Power buyer Homeward cuts another 25% of staff
(Getty, Americasroof/CC BY-SA 3.0/via Wikimedia Commons)
Amagansett leads U.S. in home price appreciation
Amagansett leads U.S. in home price appreciation
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...