Tuesday, October 2, 2012

CoreLogic: DC Home Prices Rise 5.5%

The CoreLogic Home Price Index (HPI®) -- reporting data through August 2012 -- was released October 2.

CoreLogic methodology shows U.S. home prices rose 4.6% over August 2011 -- the biggest year-over-year increase since July 2006.  August 2012 figures mark the sixth consecutive increase in home prices nationally on both a year-over-year and month-over-month basis.

District of Columbia Home Prices

  • DC home prices rose 5.5% over August 2011 -- including distressed sales.
  • Prices increased 5.2% over last year -- excluding distressed home sales.

DC *Metro Area* Home Prices
Washington-Arlington-Alexandria, DC-VA-MD-WV

  • Prices rose 5.1% over August 2011 -- excluding distressed home sales.
  • Home prices are up 4.8% -- including distressed home sales.

U.S. Home Prices

  • Home prices increased 4.6% over August 2011 -- including distressed sales.
  • Prices increased 4.9% over last year -- excluding distresssed sales.

* * *


The CoreLogic HPI provides a multi-tier market evaluation based on price, time between sales, property type, loan type and distressed sales. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time, including single-family attached and single-family detached homes, which provides a more accurate "constant-quality" view of pricing trends than basing analysis on all home sales.

A few points on the CoreLogic research methodology:
  • Results reflect repeat sales of existing single-family attached and single-family detached homes only.
  • New home builder sales are not included in the analysis.
  • CoreLogic's data excludes condos and coops from review.

For a more detailed discussion of differences in research methodologies and resultant statistics take a look at my recent blog post How to Evaluate Housing Reports.

About CoreLogic

CoreLogic is a leading provider of consumer, financial and property information, analytics and services to business and government. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The Company, headquartered in Santa Ana, Calif., has approximately 5,000 employees globally. For more information visit www.corelogic.com.

Read the full Home Data Index Report.

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