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Jackson area housing prices up nearly 4 percent

In Jackson, home prices, including distressed sales, increased by 3.8 percent in February 2013 compared to February 2012. On a month-over-month basis, home prices, including distressed sales, decreased by 1.2 percent in February 2013 compared to January 2013.

Excluding distressed sales, year-over-year prices increased by 6.2 percent in February 2013 compared to February 2012. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI indicates home prices decreased by 1.3 percent in February 2013 compared to January 2013.

 

Highlights as of February 2013:

» Including distressed sales, the five states with the highest home price appreciation were: Nevada (+19.3 percent), Arizona (+18.6 percent), California (+15.3 percent), Hawaii (+14.6 percent) and Idaho (+13.5 percent).

» Including distressed sales, this month only three states posted home price depreciation: Delaware (-4.4 percent), Alabama (-1.5 percent) and Illinois (-1.0 percent).

» Excluding distressed sales, the five states with the highest home price appreciation were: Nevada (+18.3 percent), Arizona (+16.4 percent), Hawaii (+15.5 percent), California (+15.3 percent) and Idaho (+15.3 percent).

» Excluding distressed sales, only one state, Delaware (-1.9 percent) posted home price depreciation in February.

» Including distressed transactions, the peak-to-current change in the national HPI (from April 2006 to February 2013) was -26.3 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -19.3 percent.

The five states with the largest peak-to-current declines, including distressed transactions, were Nevada (-50.8 percent), Florida (-43.3 percent), Michigan (-39.0 percent), Arizona (-38.5 percent) and Rhode Island (-36.4 percent).

Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 96 were showing year-over-year increases in February, up from 94 in January.

*January 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.

About Ross Reily

Ross Reily is editor of the Mississippi Business Journal. He is a husband to an amazing wife, dad to 3 crazy kids and 2 dogs. He is also a fan of the Delta State Fighting Okra and the Boston Red Sox.

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