While home prices are starting to show more signs of stabilizing, some states are already seeing prices start to climb. The states with the highest price appreciation in January, according to new data released by CoreLogic, are:
South Dakota: prices rose 5.7%
North Dakota: up 4%
West Virginia: up 4%
Montana: up 3.6%
Michigan: up 3%
Not all states fared as well for the month, however. According to CoreLogic’s report, overall home prices in January, which includes distressed sales, dropped 3.1 percent compared to a year earlier.
"Although home price declines are slowly improving and not far from the bottom, home prices are down to nearly the same levels as 10 years ago," said Mark Fleming, chief economist for CoreLogic.
The states that saw the biggest price depreciation in January was Illinois, where home prices were down 8.7 percent for the month.
Source: “Home Prices at Levels of 10 Years Ago: CoreLogic,” HousingWire (March 7, 2012)
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