U.S. home prices, including distressed sales, fell 7.5 percent in March from a year ago, marking the eighth straight month of home price declines, according to
CoreLogic. This follows a 5.8 percent annual decline in February. Excluding distressed sales, home prices slipped 0.96 percent in March. Of the 100 markets surveyed, 92 posted year-over-year declines in home prices.
Including distressed sales, the five states with the highest depreciation rates were Idaho, Arizona, Michigan, Florida and Illinois. Meanwhile, West Virginia, North Dakota, New York, Alaska and Maine had the highest appreciation.
Of course, all markets are really "local" and market conditions vary from one city to another. In a future post, I will provide a detailed analysis of Greater Columbia real estate market conditions.
Mel Coker
RE/MAX Metro Associates
(803) 223-6214
Columbia SC Real Estate
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