Reuters: U.S.: Home prices dip in September after string of gains: CoreLogic

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Home prices dip in September after string of gains: CoreLogic Nov 6th 2012, 13:37 Tweet Share this Email Print Related News Analysis: Canada braces as housing slowdown takes hold Mon, Nov 5 2012 Consumer confidence at more than 4-year high in October Thu, Nov 1 2012 Private sector added 158,000 jobs in Oct: ADP Thu, Nov 1 2012 WRAPUP 1-U.S. home prices climb in Aug in sign of further traction Tue, Oct 30 2012 Home prices climb further in August Tue, Oct 30 2012 Analysis & Opinion On housing, disappointing silence from Obama & Romney ‘Energy independence’ is a farce Related Topics Investing Simplified » U.S. » Housing Market » A real estate for sale sign is displayed outside a home in Chandler Heights, Arizona June 2, 2011. Credit: Reuters/Joshua Lott NEW YORK | Tue Nov 6, 2012 8:37am EST NEW YORK (Reuters) - Home prices slipped in September after gaining for six months in a row as values were weighed down by cheaper distressed sales, data from CoreLogic showed on Tuesday. CoreLogic Inc's home price index fell 0.3 percent from August. Prices were still up strongly compared with a year ago, rising 5 percent for the biggest increase since July 2006. Excluding distressed sales, prices were up 0.5 percent from August and also gained 5 percent from last year. Homes that have been seized by banks or are in danger of being foreclosed are often sold at significantly reduced prices. The stabilization in home prices this year has helped the housing market turn the corner as it recovers from its far-reaching collapse. CoreLogic forecast prices would fall 0.5 percent in October as the benefit of the summer buying boost wears off. Still, October prices are expected to be up 5.7 percent from the previous year. "So far this year, we're seeing clear signs of stabilization and improvement that show promise for a gradual recovery in the residential housing market," Anand Nallathambi, chief executive of CoreLogic, said in a statement. Of the top 100 statistical areas measured by population, 18 showed year-over-year declines, down from 27. A separate report, the closely watched home price index from S&P/Case-Shiller, has also shown home prices improving as of August. The September report will be released at the end of the month. (Reporting by Leah Schnurr. Editing by Andre Grenon) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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