California ranked 3rd best home market

November 27, 2010 by Shirleen Von Hoffmann Leave a reply »

Published: Nov. 20, 2010 9:15 p.m.

By JONATHAN LANSNER of the Orange County Register

California had the nation’s third-best housing market in September, CoreLogic reports.
Of course, things are worrisome if third best means a gain of 0.86 percent in a year — yes, less that a full percentage point!

Tops on the list for year-over-year price gains for all transactions — distressed sales, included — was New York (up 2.67 percent) then North Dakota (a 1.73 percent gain.) After California came Nebraska (+.78 percent), and Virginia (+.77 percent). Note: California ranked No. 6 in August!

The bottom? Idaho (-14.04 percent), Alabama (-8.9 percent), Mississippi (-8.3 percent), Florida (-7.68 percent) and New Mexico (-7.47 percent).
Nationwide in September, CoreLogic clocked home prices declining 2.79 percent, year over year.
Mark Fleming, chief economist for CoreLogic: “We’re continuing to see price declines across the board with all but seven states seeing a decrease in home prices … This continued and widespread decline will put further pressure on negative equity and stall the housing recovery.”

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