Real estate research firm Corelogic reports that real estate prices nationwide dropped an average of 4.7% in 2011. The data is based on the firm’s Home Price Index (HPI)
Corelogic reports
This year-end report shows that home prices continued the trend of year-end decreases—this is the fifth consecutive year with a decrease in the HPI. The HPI excluding distressed sales showed that home prices decreased by 0.9 percent in 2011, giving an indication of the impact of distressed sales on home prices in 2011.
A great deal of the data by state is not surprising. For example, prices in Nevada continue to plunge. The state is regularly listed as the one with the most foreclosures per hundred homes and most underwater mortgages. Also on the list of price decreases is Georgia, where unemployment remains high
Corelogic said
Including distressed sales, the five states with the highest appreciation were: Montana (+4.4 percent), Vermont (+4.0 percent), South Dakota (+3.1 percent), Nebraska (+2.5 percent) and New York (+1.7 percent).
Including distressed sales, the five states with the greatest depreciation were: Illinois (-11.3 percent), Nevada (-10.6 percent), Georgia (-8.3 percent), Ohio (-7.7 percent), and Minnesota (-7.5 percent).
On a city basis for the year, first by single family, and then by single family excluding distresses sales
| Chicago-Joliet-Naperville, IL | -11.8% | -2.9% |
| Atlanta-Sandy Springs-Marietta, GA | -9.0% | -3.3% |
| Los Angeles-Long Beach-Glendale, CA | -6.2% | 0.3% |
| Riverside-San Bernardino-Ontario, CA |
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