Home Prices Nationwide Up in June

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Home Prices Nationwide Up in June

Irvine, CA, August 4, 2015— Home prices nationwide, including distressed sales, increased by 6.5% in June 2015 compared with June 2014, according to the June 2015 CoreLogic Home Price Index (HPI).

On a month-over-month basis, home prices nationwide, including distressed sales, increased by 1.7% in June 2015 compared with May 2015.

The June figure represents 40 months of consecutive year-over-year increases in home prices nationally.

Including distressed sales, 35 states and the District of Columbia were at or within 10% of their peak prices in June 2015. Fifteen states and the District of Columbia reached new price peaks—Alaska, Arkansas, Colorado, Hawaii, Iowa, Kentucky, Nebraska, New York, North Carolina, North Dakota, Oklahoma, South Dakota, Tennessee, Texas and Wyoming.

Excluding distressed sales, home prices increased by 6.4% in June 2015 compared with June 2014 and increased by 1.4% month over month compared with May 2015. Excluding distressed sales, only Massachusetts (-1.5%) and Louisiana (-0.1%) showed year-over-year depreciation in June.

The CoreLogic HPI Forecast indicates that home prices, including distressed sales, are projected to increase by 0.6% month over month from June 2015 to July 2015 and by 4.5 percent on a year-over-year basis from June 2015 to June 2016.

Highlights of the June 2015 HPI report were as follows:

* Including distressed sales, the five states with the highest home price appreciation were: Colorado (+9.8%), Washington (+8.9%), New York (+8.3%), South Carolina (+8%) and Nevada (+8%).

* Excluding distressed sales, the five states with the highest home price appreciation were: Colorado (+9.3%), New York (+8.5%), Washington (+8.3%), Oregon (+8.2%) and Nevada (+7.9%).

* Including distressed sales, only four states experienced home price depreciation: Massachusetts (-5%), Connecticut (-0.6%), Louisiana (-0.4%) and Mississippi (-0.3%).

* Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to June 2015) was -7.4%. Excluding distressed transactions, the peak-to-current change for the same period was -4%.

* The five states with the largest peak-to-current declines, including distressed transactions, were: Nevada (-32.2%), Florida (-28.7%), Rhode Island (-26.5%), Arizona (-25.8%) and Maryland (-21.2%).