Industry NewsMarkets & Economy

6 straight months of home-price declines

CoreLogic: Depreciation highest in Idaho, Alabama, Arizona
Published on Mar 10, 2011

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by CareyBot

U.S. home prices fell for the sixth straight month in January as negative equity limited the mobility of homeowners, and weak demand and an overhang of shadow inventory continued to pressure home prices, data aggregator CoreLogic said today.

A home-price index compiled by CoreLogic showed national home prices down 5.7 percent from a year ago -- an even steeper decline than the 4.7 percent year-over-year drop seen in December.

January's decline brought the drop in home prices from their April 2006 peak to 32.8 percent, CoreLogic said.

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