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Expect home-price slump to continue

First American CoreLogic forecasts reversal in recent gains

National home prices were up slightly in February from a year ago -- the first annual increase in more than three years -- but are expected to give up those gains and more later this year, according to a report from First American CoreLogic.

First American CoreLogic's LoanPerformance Home Price Index showed prices up 0.3 percent in February from a year ago, compared to a 0.5 percent year-over-year price decline in January.

The index currently shows a 30.6 percent decline in national home prices from an April, 2006 peak, or 21.7 percent if distressed properties are excluded.

Glenn Roberts Jr.
Managing Editor