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CoreLogic: Merced home prices fell 5.66 percent in April

SANTA ANA--CoreLogic, which provides information, analytics and business services, released its April Home Price Index (HPI) which shows that home prices in the U.S. increased on a month-to-month basis by 0.7 percent between March and April, 2011, the first such increase since the home-buyer tax credit expired in mid-2010.

However, national home prices, including distressed sales, declined by 7.5 percent in April 2011 compared to April 2010 after declining by 6.8 percent in March 2011 compared to March 2010. Excluding distressed sales, year-over-year prices declined by 0.5 percent in April 2011 compared to April 2010 and by 1.6 percent in March 2011 compared to March 2010. Distressed sales include short sales and real-estate owned (REO) transactions.

In Merced, home prices, including distressed sales, declined by 5.66 percent in April 2011 compared to April 2010 and declined by 3.49 percent in March 2011 compared to March 2010. Excluding distressed sales, year-over-year prices declined by 1.20 percent in April 2011 compared to April 2010 and increased by 0.03 percent in March 2011 compared to March 2010.

Including distressed sales, the five states with the highest appreciation were: North Dakota (+4.2 percent), Vermont (+3.4 percent), New York (+3.2 percent), The District of Columbia (+2.2 percent) and Mississippi (+1.4 percent).

Including distressed sales, the five states with the greatest depreciation were: Idaho (-15.2 percent), Michigan (-13.2 percent), Arizona (-11.9 percent), Rhode Island (-11.6 percent) and Nevada (-11.4 percent).

Excluding distressed sales, the five states with the highest appreciation were: West Virginia (+8.4 percent), South Carolina (+6.1 percent), Hawaii (+5.8 percent), Mississippi (+5.0 percent) and North Dakota (+4.5 percent).

Excluding distressed sales, the five states with the greatest depreciation were: Nevada (-10.3 percent), Idaho (-9.5 percent), Arizona (-6.0 percent), South Dakota (-5.9 percent) and Minnesota (-5.6 percent).

Of the top 100 Core-Based Statistical Areas (CBSAs) measured by population, 92 are showing year-over-year declines in April, an increase over March when 91 of the top CBSAs were showing year-over-year declines.

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