Bend-area home prices jump 20 percent in year
Bend-area home prices have jumped more than 20 percent from a year ago, CoreLogic reported Tuesday.
The data shows home prices in the Bend metro area (Deschutes County) rose by 20.3 percent in the year ending in April. The report says that includes a 2.5 percent rise from March to April.
Meanwhile, CoreLogic says, U.S. home prices are up 12.1 percent over the past year — the biggest yearly gain seen nationally in over seven years, since February 2006. The U.S. home price figure rose 3.2 percent from March to April, the firm said.
CoreLogic sees no slowdown in May, expecting a 12.5 percent yearly gain nationwide last month and a 2.7 percent boost from April prices.
Other April highlights:
-Including distressed sales, the five states with the highest home price appreciation were: Nevada (+24.6 percent), California (+19.4 percent), Arizona (+17.3 percent), Hawaii (+17 percent) and Oregon (+15.5 percent).
-Including distressed sales, this month only two states posted home price depreciation: Mississippi (-1.7) and Alabama (-1.6 percent).
-Excluding distressed sales, the five states with the highest home price appreciation were: Nevada (+22.6 percent), California (+18.3 percent), Idaho (+16.4 percent), Arizona (+15.3 percent) and Washington (+13.9 percent).
-Excluding distressed sales, no states posted home price depreciation in April.
-Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to April 2013) was -22.4 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -16.3 percent.
-The five states with the largest peak-to-current declines, including distressed transactions, were Nevada (-47.3 percent), Florida (-40.5 percent), Michigan (-36.1 percent), Arizona (-36 percent) and Rhode Island (-34.7 percent).
-Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 94 were showing year-over-year increases in April, the same as in March 2013.
Methodology
The CoreLogic HPI incorporates more than 30 years’ worth of repeat sales transactions, representing more than 65 million observations sourced from CoreLogic industry-leading property information and its securities and servicing databases. The CoreLogic HPI provides a multi-tier market evaluation based on price, time between sales, property type, loan type (conforming vs. nonconforming) 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. The CoreLogic HPI provides the most comprehensive set of monthly home price indices available covering 6,871 ZIP codes (58 percent of total U.S. population), 634 Core Based Statistical Areas (86 percent of total U.S. population) and 1,216 counties (84 percent of total U.S. ! population) located in all 50 states and the District of Columbia.
About CoreLogic
CoreLogic (NYSE: CLGX) is a leading property information, analytics and services provider in the United States and Australia. The company’s combined data from public, contributory and proprietary sources includes over 3.3 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in seven countries. For more information, please visit www.corelogic.com .
