CoreLogic reports year-over-year Chicago home price decline

by Joe Zekas on 6/6/12

Yesterday’s email brought the following home price info from CoreLogic:

In Chicago-Joliet-Naperville, home prices, including distressed sales, declined by 7.3 percent in April 2012 compared to April 2011 and declined by 7.9 percent in March 2012 compared to March 2011. Excluding distressed sales, year-over-year prices declined by 1.1 percent in April 2012 compared to April 2011 and declined by 3.5 percent* in March 2012 compared to March 2011.

The national pricing news was more positive:

Home prices nationwide, including distressed sales, increased on a year-over-year basis by 1.1 percent in April 2012 compared to April 2011. This was the second consecutive year-over-year increase this year, and the first time two consecutive increases have occurred since June 2010. On a month-over-month basis, home prices, including distressed sales, increased by 2.2 percent in April 2012. This marks the second consecutive month-over-month increase this year.

Excluding distressed sales, prices increased 2.6 percent in April 2012 compared to March 2012, the third month-over-month increase in a row. The CoreLogic HPI also shows that year-over-year prices, excluding distressed sales, rose by 1.9 percent in April 2012 compared to April 2011. Distressed sales include short sales and real estate owned (REO) transactions.

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