December 2, 2014

A real estate report by CoreLogic on home sales, price trends and foreclosure activity

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ic.com
More Information about CoreLogic can be found at CoreLogic.com

HOME PRICE INDEX ACTIVITY

CoreLogic Reports More Than Half of States At or Within 10 Percent of PreCrisis Home Price Peak
National Home Prices Are Expected to Rise 5.1 Percent from
October 2014 to October 2015
Home Prices in Albuquerque Increase Year Over Year
IRVINE, Calif., December 2, 2014 CoreLogic (NYSE: CLGX), a leading global property information,
analytics and data-enabled services provider, today released its October CoreLogic Home Price Index
(HPI) report. Home prices nationwide, including distressed sales, increased 6.1 percent in October
2014 compared to October 2013. This change represents 32 months of consecutive year-over-year
increases in home prices nationally. On a month-over-month basis, home prices nationwide, including
distressed sales, rose by 0.5 percent in October 2014 compared to September 2014.*
At the state level, including distressed sales, all states showed year-over-year home price appreciation
in October. Twenty-seven states and the District of Columbia were at or within 10 percent of their home
price peak. The HPI reached new highs in a total of nine states: Colorado, Louisiana, Nebraska, New
York, North Dakota, South Dakota, Tennessee, Texas and Wyoming.
Excluding distressed sales, home prices nationally increased 5.6 percent in October 2014 compared to
October 2013 and 0.6 percent month over month compared to September 2014. Also excluding
distressed sales, 49 states and the District of Columbia showed year-over-year home price appreciation
in October, with Mississippi being the only state to experience a year-over-year decline (-1.2 percent).
Distressed sales include short sales and real estate owned (REO) transactions.
The CoreLogic HPI Forecast indicates that home prices, including distressed sales, are projected to
increase 0.2 percent month over month from October 2014 to November 2014 and, on a year-overyear basis, by 5.1 percent** from October 2014 to October 2015. Excluding distressed sales, home
prices are expected to rise 0.2 percent month over month from October 2014 to November 2014 and
by 4.7 percent** year over year from October 2014 to October 2015.The CoreLogic HPI Forecast is a
monthly projection of home prices using the CoreLogic HPI and other economic variables. Values are
derived from state-level forecasts by weighting indices according to the number of owner-occupied
households for each state.
"Home price growth is moderating as we head into the late fall and is currently running at half the pace
it was in the spring of 2014," said Sam Khater, deputy chief economist at CoreLogic. "However, there
are still pockets of strength, especially in several Texas markets, as well as Seattle, Denver and other
markets with strong economic fundamentals."

prices are expected to rise 0.2 percent month over month from October 2014 to November 2014 and
by 4.7 percent** year over year from October 2014 to October 2015.The CoreLogic HPI Forecast is a
monthly projection of home prices using the CoreLogic HPI and other economic variables. Values are
derived from state-level forecasts by weighting indices according to the number of owner-occupied
households for each state.
"Home price growth is moderating as we head into the late fall and is currently running at half the pace
it was in the spring of 2014," said Sam Khater, deputy chief economist at CoreLogic. "However, there
are still pockets of strength, especially in several Texas markets, as well as Seattle, Denver and other
markets with strong economic fundamentals."
"The gradual recovery of the housing market continues to be propelled by improving employment, more
buyer and seller confidence, continued low rates and, in certain parts of the country, investor demand.
The continued actual and projected rise in home prices confirms that fact," said Anand Nallathambi,
president and CEO of CoreLogic. "Based on our projections, home prices in over half the country will
have reached or surpassed levels last seen at the height of the housing bubble sometime in mid-2015."
Home Prices in Albuquerque Increase
In Albuquerque, home prices, including distressed sales, increased by 2.0 percent in October 2014
compared to October 2013. On a month-over-month basis, home prices, including distressed sales,
decreased by 0.5 percent in October 2014 compared to September 2014.
Excluding distressed sales, year-over-year prices increased by 3.2 percent in October 2014 compared
to October 2013. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI
indicates home prices increased by 1.7 percent in October 2014 compared to September 2014.
Highlights as of October 2014:

Including distressed sales, the five states with the highest home price appreciation were: Michigan
(+10.5 percent), South Dakota (+10.4 percent), Montana (+9.1 percent), Texas (+8.7 percent)
and Colorado (+8.6 percent).
Excluding distressed sales, the five states with the highest home price appreciation were: South
Dakota (+10.4 percent), Massachusetts (+9.7 percent), Maine (+8.4 percent), Texas (+8.1
percent) and Michigan (+8.0 percent).
Including distressed transactions, the peak-to-current change in the national HPI (from April 2006
to October 2014) was -12.4 percent. Excluding distressed transactions, the peak-to-current
change in the HPI for the same period was -8.9 percent.

The five states with the largest peak-to-current declines, including distressed transactions, were:
Nevada (-36.1 percent), Florida (-33.5 percent), Arizona (-29.0 percent), Rhode Island (-28.3
percent) and Maryland (-21.9 percent).
Including distressed sales, the U.S. has experienced 32 consecutive months of year-over-year
increases; however, the national average is no longer posting double-digit increases.
Ninety-four of the top 100 Core Based Statistical Areas (CBSAs) measured by population showed
year-over-year increases in October 2014.The six CBSAs that showed year-over-year declines
were Hartford-West Hartford-East Hartford, Conn.; Worcester, Mass.-Conn.; Greensboro-High
Point, N.C.; Rochester, N.Y.; Camden, N.J. and Winston-Salem, N.C.
*September 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.
** The forecast accuracy represents a 95-percent statistical confidence interval with a +/- 2.0 percent
margin of errorfor the index including distressed sales and a +/- 1.9 percent margin of error for the
index excluding distressed sales.