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September decline in US Home Prices

By Bill Anderson Cooper

According to Corelogic, information providers and analysts, home prices decreased in September by 0.3% after a month-over-month analysis when compared to August 2012 representing the first ever decline since February the same year.

However, on a year-over-year basis, home prices showed a trendy rise of 5% in September 2012 compared to the same period the previous year representing the largest increase since July 2006 and also becoming the seventh consecutive rise in home prices nationally on a year-over-year basis.

According to Corelogic chief economist Mark Fleming, most states are exhibiting price increases despite decline on prices on a month-over-month basis, with gains being attributed to the former housing-bubble and energy industry-concentrated states.

Capital Economics, however note that Corelogic’s house measurements are not seasonally adjusted, adding that the downturn is seasonal and should not be surprising.

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