CoreLogic’s June Home Price Index shows home values climbed 0.7 percent from May, marking the third consecutive month prices have risen. Mark Fleming, CoreLogic’s chief economist, said there has been consistent and sustained seasonal improvement in prices over the last three months but values are still lower than a year ago due to the price declines that occurred after the expiration of the homebuyer tax credit last year. Including distressed property sales, prices are down 6.8 percent from last year. But when excluding distressed transactions, home values are just 1.1 percent below June 2010. According to Fleming, the difference between the overall index and the index excluding distressed sales indicates price declines are more concentrated in the distressed sales market. More here and here.
