CoreLogic Home Price Index ranks Chicago worst of 10 largest metros

CoreLogic released its November Home Price Index report yesterday. The highlights:

Home prices nationwide, including distressed sales, increased on a year-over-year basis by 7.4 percent in November 2012 compared to November 2011. This change represents the biggest increase since May 2006 and the ninth consecutive increase in home prices nationally on a year-over-year basis. On a month-over-month basis, including distressed sales, home prices increased by 0.3 percent in November 2012 compared to October 2012*. The HPI analysis shows that all but six states are experiencing year-over-year price gains.

Excluding distressed sales, home prices nationwide increased on a year-over-year basis by 6.7 percent in November 2012 compared to November 2011. On a month-over-month basis excluding distressed sales, home prices increased 0.9 percent in November 2012 compared to October 2012. Distressed sales include short sales and real estate owned (REO) transactions.

In Chicago-Joliet-Naperville, home prices, including distressed sales, declined by 0.5 percent in November 2012 compared to November 2011. On a month-over-month basis, home prices, including distressed sales, increased by 0.3 percent in November 2012 compared to October 2012.

Excluding distressed sales, year-over-year prices increased by 2.3 percent in November 2012 compared to November 2011 and declined by 0.4 percent* in October 2012 compared to October 2011. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI indicates home prices increased by 0.9 percent in November 2012 compared to October 2012.

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