NV: Home Prices Have Dropped 60% Since Peak

Nevada Real EstateHome prices in the state of Nevada, including distressed property sales, have fallen 60 percent since the housing market peaked in April of 2006 according to CoreLogic’s December Home Price Index (HPI), the largest decline in home prices of any state in the country.

But Nevada wasn’t the biggest loser in 2011, that distinction belonged to Illinois which saw home prices drop 11.2 percent in the last year. Nevada was second with a price decline of 10.6 percent when including distressed property sales. Other states that have posted large declines in home prices since the market peaked in 2006 were Arizona (-51.9%), Florida

Monthly home prices fell for the fifth consecutive month, declining 1.4 percent from the previous month when including distressed property sales. However, excluding distressed properties, home prices would have increased 0.2 percent, the first time that has happened since July of 2011.

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Full Story from LoanRateUpdate.com

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