CoreLogic today released its March CoreLogic HPI report. Home prices nationwide, including distressed sales, increased 10.5% on a year-over-year basis in March 2013 compared to March 2012. This change represents the biggest year-over-year increase since March 2006 and the 13th consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 1.9% in March 2013 compared to February 2013.
Excluding distressed sales, home prices increased on a year-over-year basis by 10.7% in March 2013 compared to March 2012. On a month-over-month basis, excluding distressed sales, home prices increased 2.4% in March
2013 compared to February 2013. Distressed sales include short sales and real estate owned (REO) transactions. The CoreLogic Pending HPI indicates that April 2013 home prices, including distressed sales, are expected to rise by 9.6% on a year-over-year basis from April 2012 and rise by 1.3% on a month-over-month basis from March 2013. Excluding distressed sales, April 2013 home prices are poised to rise 12% year over year from April 2012 and by 2.7% month over month from March 2013.
The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. It is based on Multiple Listing Service (MLS) data that measure price changes for the most recent month.
