House prices dipped 1.3% on a month-over-month basis, according to the CoreLogic (CLGX: 13.70 -0.22%) October home price index, the third consecutive monthly decline.
Prices declined 3.9% compared to year-ago figures that include distressed sales. Excluding distressed sales, year-over-year prices declined 0.5% in October. Distressed sales include short sales and real estate owned transactions.
"Home prices continue to decline in response to the weak demand for housing," said Mark Fleming, chief economist for CoreLogic. "Looking forward, our forecasts indicate flat growth through 2013"
Read more...CoreLogic predicts flat home prices through 2013 « HousingWire
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