U.S. home prices posted their first year-over-year decline in 2010 during August, according to data aggregator CoreLogic.

CoreLogic’s Home Price Index showed national home prices declining 1.5 percent in August compared to the same month a year ago. The index showed prices down 28.2 percent from their April 2006 peak.

When sales of distressed properties are excluded from the index, the year-over-year price decline in August was a more modest 0.4 percent, and the drop from the peak was 19.6 percent.

Among the nation’s 100 largest metro areas, 78 saw price declines, up from 58 in July, when the index registered a 0.6 percent year-over-year price increase.

The top five states with the highest appreciation, including distressed sales, were: Maine (up 5.8 percent), New York (3.7 percent), Connecticut (2.5 percent), Virginia (2.4 percent), and South Dakota (2.1 percent).

The top five states with the greatest depreciation, including distressed sales, were Idaho (-14 percent), Alabama (-10.4 percent), Utah (-7.3 percent), Oregon (-6.3 percent) and Florida (-6.2 percent).

Another index maintained by Fannie Mae and Freddie Mac’s federal regulator showed U.S. home prices falling 2.4 percent from a year ago in August, to 13.7 percent below an April 2007 peak.

The Federal Housing Finance Agency’s monthly house price index can understate both price declines and price appreciation, because it is calculated using the purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae or Freddie Mac. Underwriting standards on those loans tended to be stricter than loans originated by subprime lenders during the boom.

The FHFA house price index showed U.S. home prices rising 0.4 percent on a seasonally adjusted basis from July to August. FHFA revised a previously reported 0.5 percent decline in July to a 0.7 percent decline.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription