december 2013_corelogic_home price index report

CoreLogic ®

Home Price Index Report

December 2013

CorelogiC home priCe index reportDECEmbEr 2013

© 2014 CoreLogic — Proprietary and confidential. This material may not be reproduced in any form without express written permission. 22

Home PRICe Index – natIonaL oveRvIew

► Home Prices rise by 11 Percent Year Over Year in December

► change represents 22nd consecutive Year-Over-Year Increase in Home Prices Nationally

► Pending HPI Projects -0.8 Percent month-Over-month Decline in January 2014

Home PRICes InCReased

11.0%natIonwIde ComPaRed to deCembeR 2012

Home prices, including distressed sales, increased by

11.0 percent in December 2013 compared to December 2012.

November marks the 22nd consecutive month of year-over-

year home price gains.

excluding distressed sales, home prices increased by

9.9 percent year over year.

CoReLogIC HPI deCReased

−0.1%In deCembeR FRom novembeR

On a month-over-month basis, home prices decreased by

0.1 percent in December compared to November* data.

excluding distressed sales, home prices were up 0.2 percent

month over month in December 2013.

Home PRICes RemaIn

18.0%beLow aPRIL 2006 Peak

Despite double-digit gains in December, home prices

nationwide remain 18.0 percent below their peak, which

was set in April 2006.

Home prices, excluding distressed sales, were still 13.6 percent

below the peak. Distressed sales is composed of short sales

and real estate owned (reO) transactions.

“Last year, home prices rose 11 percent, the highest rate of annual increase since 2005, and 10 states and the district of Columbia reached new all-time price peaks. we expect the rising prices to attract more sellers, unlocking this pent-up supply, which will have a moderating effect on prices in 2014.”

dr. mark Fleming, chief economist for coreLogic

* November data was revised. revisions with public records data are standard, and to ensure accuracy, coreLogic incorporates the newly released public data to provide updated results.



sHoRt-teRm PRojeCtIons

tHe CoReLogIC PendIng HPI IndICates tHat Home PRICes aRe exPeCted to RIse by

10.2%on a year-over-year basis in January. Home prices, including

distressed sales, are expected to dip 0.8 percent month over

month from December 2013 to January 2014.

exCLudIng dIstRessed saLes, januaRy Home PRICes aRe PoIsed to RIse

9.7%from January 2013 and by 0.2 percent month over month.

“we expect the rising prices to attract more sellers,

unlocking this pent-up supply, which will have a

moderating effect on prices in 2014.”

dr. mark Fleming, chief economist for coreLogic

The coreLogic Pending HPI is a proprietary and exclusive

metric that provides the most current indication of trends in

home prices. It is based on multiple Listing Service (mLS) data

that measure price changes for the most recent month.



PeRCentage CHange In Home PRICes yeaR oveR yeaR

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

Jan-

02

Feb

-03

Mar

-04

Ap

r-0

5

May

-06

Jun-

07

Jul-

08

Aug

-09

Sep

-10

Oct

-11

No

v-12

Dec

-13

Including Distressed Excluding DistressedInCLudIng dIstRessed saLes

exCLudIng dIstRessed saLes

Source: coreLogic December 2013



No Decline

0% - 8%

8% - 15%

15% - 20%

>20%

No Decline

0% - 8%

8% - 15%

15% - 20%

>20%

natIonaL snaPsHot

► HPI peak-to-current change including distressed sales

Source: coreLogic HPI, single-family combined series, as of December 2013

► HPI peak-to-current change excluding distressed sales

Source: coreLogic HPI, single-family combined excluding distressed sales series, as of December 2013



state HIgHLIgHtsALL 50 STATeS AND THe DISTrIcT Of cOLumbIA SHOweD YeAr-Over-YeAr HOme

PrIce APPrecIATION fOr December

21 states and tHe dIstRICt oF CoLumbIa aRe at oR wItHIn 10 PeRCent oF tHeIR Home PRICe Peaks

► Five states registering largest year-over-year home price appreciation in december

NevADA cALIfOrNIA mIcHIgAN OregON geOrgIA

+23.9% +19.7% +14.0% +13.7% +12.8%

► Five states registering smallest year-over-year home price appreciation in december

ArkANSAS New mexIcO mISSISSIPPI keNTuckY wIScONSON

-1.5% -1.3% -0.2% +0.2% +0.8%

► Five states remaining furthest from peak values in december

NevADA fLOrIDA ArIzONA rHODe ISLAND weST vIrgINIA

-40.6% -37.6% -31.8% -30.3% -25.6%

no states Posted Home PRICe deCReCIatIon In deCembeR

“the healthy and broad based gains in home prices in 2013 help set the stage for the continued recovery in the housing sector in 2014. after six years of fits and starts, we can now see a clearer path to a durable recovery in single family residential housing across most of the u.s.”

anand nallathambi, president and ceO of coreLogic



metRoPoLItan aRea HIgHLIgHts

metRoPoLItan aReasIngLe FamILy

(InCLudIng dIstRessed)

sIngLe FamILy (exCLudIng dIstRessed)

riverside-San bernardino-Ontario, cA 22.0% 19.1%

Los Angeles-Long beach-glendale,

cA19.1% 16.6%

Atlanta-Sandy Springs-roswell, gA 15.0% 13.1%

Phoenix-mesa-Scottsdale, Az 13.9% 11.7%

chicago-Naperville-Arlington

Heights, IL12.5% 12.4%

Houston-The woodlands-Sugar

Land, Tx10.7% 10.7%

Dallas-Plano-Irving, Tx 9.8% 9.4%

washington-Arlington-Alexandria,

Dc-vA-mD-wv7.7% 7.9%

minneapolis-St. Paul-bloomington,

mN-wI7.5% 7.9%

New York-Jersey city-white Plains,

NY-NJ7.3% 8.3%

Source: coreLogic

95oF tHe 100 LaRgest metRoPoLItan aReas (CoRe based statIstICaL aReas) Posted yeaR-oveR-yeaR InCReases In deCembeR.



ContInued on Page 9

state LeveL detaIL

sIngLe-FamILy InCLudIng dIstRessed

state 12-montH HPI CHange

3-montH 1-montH Peak-to-

CuRRent HPI CHange

Peak date

Alabama 3.7% -2.0% 0.2% -16.3% Aug-2007

Alaska 5.5% -1.6% -0.6% -2.4% Aug-2013

Arizona 12.4% 0.4% 0.2% -31.8% JuN-2006

Arkansas -1.5% -2.7% -0.5% -4.9% OcT-2006

california 19.7% 0.3% -0.4% -21.7% mAY-2006

colorado 8.3% -0.6% 0.0% -0.6% Aug-2013

connecticut 1.8% -2.9% 0.0% -23.5% JuL-2006

Delaware 2.7% 0.9% -1.0% -16.6% Dec-2006

District of columbia 7.4% 1.4% 0.1% -0.1% JuN-2013

florida 9.9% 0.4% 0.5% -37.6% OcT-2006

georgia 12.8% -0.2% 0.6% -14.6% Dec-2006

Hawaii 9.9% -1.1% -0.6% -10.3% OcT-2006

Idaho 12.0% -1.0% -1.2% -20.3% mAY-2007

Illinois 9.2% -2.7% -0.7% -25.2% NOv-2006

Indiana 4.2% -0.7% 0.7% -8.5% JuL-2007

Iowa 2.5% -0.9% -0.8% -1.1% Aug-2013

kansas 3.4% 0.0% 0.7% -6.2% JuL-2007

kentucky 0.2% -2.7% -1.0% -7.5% SeP-2006

Louisiana 3.4% -0.5% 1.0% -2.1% JuL-2007

maine 11.7% 2.6% 2.8% -3.9% JuL-2007

maryland 6.2% -1.3% -0.1% -23.7% NOv-2006

massachusetts 9.5% -1.4% -0.6% -12.7% OcT-2005

michigan 14.0% -0.7% -0.5% -24.9% NOv-2005

minnesota 6.5% -2.1% -1.4% -16.4% JuN-2006

mississippi -0.2% -4.0% -0.8% -13.0% NOv-2007

missouri 6.6% -1.0% 0.7% -15.0% SeP-2006

natIonaL HPI

12-month change: 11.0%

3-month change: −0.4%


Peak-to-current change: −18.0%

Peak date: april 2006





CuRRent HPI CHange

Peak date

montana 9.1% 2.2% 0.9% -1.7% Aug-2007

Nebraska 4.3% 1.1% 0.8% 0.0% Dec-2013

Nevada 23.9% 0.7% 0.0% -40.6% mAr-2006

New Hampshire 5.3% -1.0% -1.0% -17.7% SeP-2005

New Jersey 5.1% -1.1% -0.2% -23.9% JuN-2006

New mexico -1.3% -2.3% -1.0% -20.6% mAY-2007

New York 9.6% 1.7% 1.2% -4.2% NOv-2006

North carolina 4.4% -0.8% -0.3% -7.1% JuL-2007

North Dakota 5.6% 0.7% 0.8% 0.0% Dec-2013

Ohio 3.4% -1.5% -0.3% -14.5% OcT-2005

Oklahoma 2.0% -0.6% -0.3% -1.1% JuL-2013

Oregon 13.7% -0.4% -0.1% -15.5% JuL-2007

Pennsylvania 3.3% -1.6% -0.1% -10.3% SeP-2006

rhode Island 4.9% -1.5% -0.3% -30.3% OcT-2005

South carolina 7.6% 0.9% -0.6% -8.4% APr-2007

South Dakota 5.3% -0.9% -0.2% -1.8% Aug-2013

Tennessee 5.2% -1.2% -0.1% -5.9% JuL-2007

Texas 8.7% 0.5% 0.4% 0.0% Dec-2013

utah 10.4% -0.3% 0.2% -15.5% JuN-2007

vermont 1.2% -4.6% -0.4% -4.6% SeP-2013

virginia 5.7% -1.4% -0.3% -16.8% mAY-2006

washington 10.1% -1.2% -1.1% -17.6% JuL-2007

west virginia 2.1% -0.5% -1.6% -25.6% Aug-2005

wisconsin 0.8% -3.9% -1.3% -14.9% SeP-2006

wyoming 7.3% -3.1% -1.2% -3.8% JuN-2013

state LeveL detaIL

sIngLe-FamILy InCLudIng dIstRessed

natIonaL HPI








ContInued on Page 11

state LeveL detaIL

sIngLe-FamILy exCLudIng dIstRessed



CuRRent HPI CHange

Peak date

Alabama 8.5% 0.4% 1.1% -8.3% JuL-2007

Alaska 5.3% -0.8% -0.2% -1.7% Aug-2013

Arizona 10.9% 0.8% 0.4% -29.5% JuL-2006

Arkansas 3.2% -0.4% 0.5% -1.3% JuL-2007

california 16.2% 0.2% -0.2% -19.8% mAY-2006

colorado 7.4% -0.4% 0.0% -0.5% Aug-2013

connecticut 2.3% -1.8% 0.4% -19.4% JuL-2006

Delaware 4.2% 2.1% -0.4% -15.9% JuL-2007

District of columbia 6.7% 0.8% -0.2% -0.8% JuN-2013

florida 11.5% 1.0% 0.8% -32.2% SeP-2006

georgia 11.5% 0.2% 0.5% -10.4% Aug-2007

Hawaii 7.4% -1.2% -0.3% -9.8% mAY-2007

Idaho 12.8% 0.1% -0.9% -18.8% JuL-2007

Illinois 9.1% -0.9% 0.2% -17.6% OcT-2006

Indiana 4.1% 0.2% 1.2% -5.4% JuN-2007

Iowa 4.0% 0.1% -0.2% -0.2% NOv-2013

kansas 6.8% 1.0% 1.0% -2.1% JuL-2007

kentucky 2.3% -1.1% -0.4% -2.3% SeP-2007

Louisiana 5.0% 1.3% 1.2% 0.0% Dec-2013

maine 7.1% 2.4% 2.0% -11.8% JuL-2007

maryland 6.6% -0.6% -0.1% -19.8% JuL-2006

massachusetts 9.8% 0.2% -0.4% -10.0% OcT-2005

michigan 10.5% -0.4% 0.0% -16.7% OcT-2005

minnesota 6.7% -1.5% -1.1% -14.3% JuN-2006

mississippi 1.9% -1.5% 1.3% -7.1% OcT-2007

missouri 6.6% 0.1% 1.1% -10.2% JuL-2007

natIonaL HPI








state LeveL detaIL

sIngLe-FamILy exCLudIng dIstRessed



CuRRent HPI CHange

Peak date

montana 9.6% 4.0% 1.6% -5.0% Aug-2007

Nebraska 4.6% 1.4% 1.2% 0.0% Dec-2013

Nevada 20.0% 0.5% 0.1% -40.3% mAY-2006

New Hampshire 3.5% -0.8% -0.9% -15.7% SeP-2005

New Jersey 5.7% -0.2% 0.1% -20.6% JuN-2006

New mexico 3.5% 0.7% 0.4% -15.4% mAY-2007

New York 10.2% 2.3% 1.5% -2.1% NOv-2006

North carolina 5.9% 0.1% 0.1% -4.9% SeP-2007

North Dakota 5.4% 0.9% 0.7% 0.0% Dec-2013

Ohio 4.3% -0.8% 0.2% -9.1% JuL-2006

Oklahoma 3.3% 0.4% -0.4% -0.4% NOv-2013

Oregon 11.6% -0.4% -0.2% -14.0% JuL-2007

Pennsylvania 3.9% -0.6% 0.3% -6.9% SeP-2007

rhode Island 4.7% -0.7% -0.1% -27.7% OcT-2005

South carolina 7.2% 2.2% 0.3% -5.0% APr-2007

South Dakota 5.8% -0.8% 0.0% -1.8% Aug-2013

Tennessee 5.4% 0.1% 0.4% -1.2% JuL-2007

Texas 8.9% 1.2% 0.7% 0.0% Dec-2013

utah 11.0% 0.0% 0.5% -13.7% JuL-2007

vermont 1.1% -4.0% -0.4% -4.0% SeP-2013

virginia 6.6% 0.0% 0.1% -13.4% mAY-2006

washington 10.6% -0.2% -0.5% -14.1% JuL-2007

west virginia 5.1% 0.9% -1.3% -19.9% mAY-2006

wisconsin 2.2% -2.1% -0.7% -10.4% SeP-2006

wyoming 0.5% -1.5% -0.6% -7.6% SeP-2007

natIonaL HPI








CoReLogIC HPI 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.

6,975 zIP codes (58 percent of total u.S. population), 632 core based Statistical Areas (86 percent of

total u.S. population) and 1,233 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.

cOreLOgIc, the coreLogic logo, cOreLOgIc HPI and HPI are trademarks of coreLogic, Inc. and/or its subsidiaries.

ContaCt

for more information, please call 415-536-3500 or email [email protected].

17-HPI-Dec13-0214-00

moRe InsIgHts

The CoreLogic Insights blog (corelogic.com/blog) provides an expanded perspective on housing economies and property markets, including policy, trends, regulation and compliance. Please visit the blog for timely analysis, thought-provoking data visualizations and unique commentary from our team in the Office of the chief economist.

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