Home prices increasing

Published 2:00 am Thursday, August 19, 2010

Home prices in Dalton, including distressed sales, increased by 1.18 percent in June 2010 compared to June 2009, according to real estate data provider CoreLogic.

CoreLogic’s Home Price Index (HPI) shows that home prices in the United States increased in June, the fifth consecutive month showing a year-over-year increase. National home prices, including distressed sales, increased by 1.4 percent in June 2010 compared to June 2009 and increased by 3.7 percent in May 2010 compared to May 2009.

“The June 2.3 percentage point deceleration from May is very large by historical standards,” CoreLogic said in a press release. “The deceleration was most pronounced in more expensive and distressed segments of the market. Excluding distressed sales, year-over-year prices only increased by 0.2 percent in June and May’s non-distressed HPI increased by 0.5 percent.”

“Home price volatility and collateral risk remain very high,” said Mark Fleming, chief economist for CoreLogic. “The stabilization phase and policy intervention since the spring of 2009 has run its course. Prices are expected to further moderately decline as the economy remains weak through the fall.”