Including distressed sales, the fivernstates with the highest home price appreciation were: Michigan (+11.1 percent),rnCalifornia (+9.2 percent), Nevada (+9.2 percent), Maine (+9 percent) and WestrnVirginia (+8.7 percent). </p

Excluding distressed sales, homernprices nationally increased 5.9 percent in August 2014 compared to August 2013rnand 0.3 percent on a month-over-month basis. rnMississippi was the only state which did not post an annual increase; itsrnHPI was down 1.7 percent from a year earlier. rnDistressed sales include short sales and real estate owned (REO)rntransactions.</p

When distressed sales were excludedrnthe greatest appreciation on an annual basis was in Massachusetts (+9.4rnpercent), Maine (+9.3 percent), West Virginia (+8.9 percent), Hawaii (+8.7rnpercent) and South Carolina (+8.1 percent).</p

“The pace of year-over-yearrnappreciation continues to slow down as real estate markets find more balance.rnHome price appreciation reached a peak of almost 12 percent year-over-year inrnOctober 2013 and has since subsided to the current pace of 6 percent,”rnsaid Mark Fleming, chief economist at CoreLogic. “Continued moderation ofrnhome price appreciation is a welcomed sign of more balanced real estate marketsrnand less pressure on affordability for potential home buyers in the nearrnfuture.”</p

“Home prices continue to rise,rnalbeit more slowly, across most of the U.S.,” said Anand Nallathambi,rnpresident and CEO of CoreLogic. “Major metropolitan areas such as Riversidernand Los Angeles, California, and Houston continue to lead the way with strongrnprice gains buoyed by tight supplies and a gradual rebound in economicrnactivity.”</p

While increasing numbers of statesrnare establishing new price peaks the national HPI including distressed sales isrnstill 12.1 percent below its peak in April 2006 while the HPI excludingrndistressed transactions 8.6 percent.</p

CoreLogic is forecasting that homernprices, including distressed sales, will increase 0.2 percent from August tornSeptember and the annual price growth from August 2014 to August 2014 will bern5.2 percent.  With distressed salesrnexcluded those gains will be 0.2 percent and 4.7 percent respectively.  The CoreLogic HPI Forecast is a monthlyrnprojection of home prices built using the CoreLogic HPI and other economicrnvariables. Values are derived from state-level forecasts by weighting indicesrnaccording to the number of owner-occupied households for each state.

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