U.S. Home Prices Fall 0.8% From March To April
U.S. home prices fell 0.8 percent on a seasonally-adjusted basis from March to April, according to OFHEO’s monthly House Price Index. For the 12 months ending in April, U.S. prices fell 4.6 percent. As April 2007 was the peak of the monthly HPI, 4.6 percent is also the total fall from the peak.
For the nine Census Divisions, seasonally-adjusted monthly price changes from March to April ranged from -2.0 percent in the Pacific Census Division (which includes Alaska, Hawaii, Washington, Oregon and California) to 0.9 percent in the East South Central Division (which includes Kentucky, Tennessee, Mississippi and Alabama).
76 Percent Of U.S. ZIP Codes Tracked Indicate Decreasing Property Values
“Of the 7,472 ZIP codes tracked by the LoanPerformance HPI, home prices in 5,691 (76.16 percent) of these ZIP codes have decreased over the last three months,” said Damien Weldon, vice president, collateral and prepayment analytics for First American CoreLogic, “Year-over-year, however, just 4,028 (53.91 percent) of the ZIP codes we track indicate decreasing property values,” added Weldon.
| 3 and 12-Month Change By Top CBSAs (Core Based Statistical Areas) as of December 2007 | ||
| 3 Month | 12 Month | |
| Change | Change | |
| Austin-Round Rock, TX (Metropolitan) | 0.91% | 8.09% |
| New York-White Plains-Wayne, NY-NJ (Metropolitan) | 0.61% | -0.35% |