Global| Oct 02 2012CoreLogic Reports Further Home Price Improvement
by:Tom Moeller
|in:Economy in Brief
Summary
The housing market continues to firm. CoreLogic reported that home prices rose 0.3% in August following a 1.4% jump during July. It was the sixth consecutive month of increase but was the weakest (by far) of the gains. Nevertheless, [...]
The housing market continues to firm. CoreLogic reported that home prices rose 0.3% in August following a 1.4% jump during July. It was the sixth consecutive month of increase but was the weakest (by far) of the gains. Nevertheless, the trend rate of improvement strengthened. The twelve-month increase of 4.6% was accompanied by a 6-month change of 10.1%. Price improvement for detached homes, up 4.2% y/y, continued to be outpaced by attached homes (condos & coops), up 6.0% y/y.
The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time. The survey covers 6,070 ZIP codes (58 percent of total U.S. population), 519 Core Based Statistical Areas (CBSA, 85 percent of total U.S. population) and 898 counties (81 percent of total U.S. population) located in all 50 states and the District of Columbia.
| CoreLogic National House Price Index (Jan. 2000 = 100) | Aug | July | M/M | Y/Y | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|
| Single-Family Attached & Detached | 147.06 | 146.60 | 0.3% | 4.6% | -4.3% | -0.3 | -11.9 |
| Detached | 145.68 | 145.58 | 0.1 | 4.2 | -4.1 | 0.1 | -11.5 |
| Attached | 153.91 | 151.77 | 1.4 | 6.0 | -4.8 | -1.9 | -13.8 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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