National home prices decreased 1.5% in August 2010 compared to August 2009 – the first year-over-year decline charted this year by CoreLogic's Home Price Index. Excluding distressed sales, year-over-year prices fell 0.4%.
The top five states with the greatest depreciation, including distressed sales, were Idaho (-14%), Alabama (-10.4%), Utah (-7.3%), Oregon (-6.3%) and Florida (-6.2%). Excluding distressed sales, the states with the greatest depreciation were Idaho, Michigan, Arizona, Nevada and Utah.
‘Price declines are geographically expanding, as 78 out of the largest 100 metropolitan areas are experiencing declines – up from 58 just one month ago,’ says Mark Fleming, CoreLogic's chief economist.