CoreLogic Home Price Index Rises by 10.2 Percent Year Over Year in February: The Biggest Increase in Nearly Seven Years

 CoreLogic Home Price Index Rises by 10.2 Percent Year Over Year in February:
                  The Biggest Increase in Nearly Seven Years

--Pending HPI Projects Continued Double-Digit Growth in March--

PR Newswire

IRVINE, Calif., April 3, 2013

IRVINE, Calif., April 3, 2013 /PRNewswire/ -- CoreLogic^® (NYSE: CLGX), a
leading residential property information, analytics and services provider,
today released its February CoreLogic HPI^® report. Home prices nationwide,
including distressed sales, increased 10.2 percent on a year-over-year basis
in February 2013 compared to February 2012. This change represents the
biggestyear-over-year increase since March 2006 and the 12^th consecutive
monthly increase in home prices nationally. On a month-over-month basis,
including distressed sales, home prices increased by 0.5 percent in February
2013 compared to January 2013*.

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Excluding distressed sales, home prices increased on a year-over-year basis by
10.1 percent in February 2013 compared to February 2012. On a month-over-month
basis, excluding distressed sales, home prices increased 1.5 percent in
February 2013 compared to January 2013. Distressed sales include short sales
and real estate owned (REO) transactions.

The CoreLogic Pending HPI indicates that March 2013 home prices, including
distressed sales, are also expected to rise by 10.2 percent on a
year-over-year basis from March 2012 and rise by 1.2 percent on a
month-over-month basis from February 2013. Excluding distressed sales, March
2013 home prices are poised to rise 11.4 percent year over year from March
2012 and by 2.0 percent month over month from February 2013. The CoreLogic
Pending HPI is a proprietary and exclusive metric that provides the most
current indication of trends in home prices. It is based on Multiple Listing
Service (MLS) data that measure price changes for the most recent month.

"The rebound in prices is heavily driven by western states. Eight of the
topten highest appreciating large markets are in California, with Phoenix and
Las Vegas rounding out the list," said Dr. Mark Fleming, chief economist for
CoreLogic.

"Home prices continued their march upward in February. Nationally, home prices
improved at the best rate since mid-2006, marking a full year of annual
increases and underscoring the ongoing strengthening of market fundamentals,"
said Anand Nallathambi, president and CEO of CoreLogic. "Continued home price
appreciation will provide fuel needed to drive further recovery in the home
purchase market." 

Highlights as of February 2013:

  oIncluding 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).
  oIncluding distressed sales, this month only three states posted home price
    depreciation: Delaware (-4.4 percent), Alabama (-1.5 percent) and
    Illinois (-1.0 percent).
  oExcluding 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).
  oExcluding distressed sales, only one state,Delaware (-1.9 percent) posted
    home price depreciation in February.
  oIncluding 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.
  oThe 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).
  oOf 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.

Table 1: February HPI for the Country's Largest CBSAs by Population (Sorted by
Single Family Including Distressed)

Table 2: February National and State HPI (Sorted by Single Family Including
Distressed)

Figure 1: Home Price Index
Percentage Change Year-Over-Year

Map 1: Single-Family Combined Series
12-Month Change by State

Map 2: Single-Family Combined Excluding Distressed Series
12-Month Change by State

Methodology
The CoreLogic HPI incorporates more than 30 years' worth of repeat sales
transactions, representing more than 65 million observations sourced from
CoreLogic industry-leading property information and its securities and
servicing databases. The CoreLogic HPI provides a multi-tier market evaluation
based on price, time between sales, property type, loan type (conforming vs.
nonconforming) and distressed sales. The CoreLogic HPI is a repeat-sales index
that tracks increases and decreases in sales prices for the same homes over
time, including single-family attached and single-family detached homes, which
provides a more accurate "constant-quality" view of pricing trends than basing
analysis on all home sales. The CoreLogic HPI provides the most comprehensive
set of monthly home price indices available covering 6,840 ZIP codes (58
percent of total U.S. population), 627 Core Based Statistical Areas (86
percent of total U.S. population) and 1,200 counties (84 percent of total U.S.
population) located in all 50 states and the District of Columbia.

Source: CoreLogic
The data provided is for use only by the primary recipient or the primary
recipient's publication or broadcast. This data may not be re-sold,
republished or licensed to any other source, including publications and
sources owned by the primary recipient's parent company without prior written
permission from CoreLogic. Any CoreLogic data used for publication or
broadcast, in whole or in part, must be sourced as coming from CoreLogic, a
data and analytics company. For use with broadcast or web content, the
citation must directly accompany first reference of the data. If the data is
illustrated with maps, charts, graphs or other visual elements, the CoreLogic
logo must be included on screen or website. For questions, analysis or
interpretation of the data, contact Lori Guyton at lguyton@cvic.com or Bill
Campbell at bill@campbelllewis.com. Data provided may not be modified without
the prior written permission of CoreLogic. Do not use the data in any unlawful
manner. This data is compiled from public records, contributory databases and
proprietary analytics, and its accuracy is dependent upon these sources.

About CoreLogic
CoreLogic (NYSE: CLGX) is a leading property information, analytics and
services provider in the United States and Australia. The Company's combined
data from public, contributory, and proprietary sources includes over 3.3
billion records spanning more than 40 years, providing detailed coverage of
property, mortgages and other encumbrances, consumer credit, tenancy,
location, hazard risk and related performance information. The markets
CoreLogic serves include real estate and mortgage finance, insurance, capital
markets, transportation and government. CoreLogic delivers value to clients
through unique data, analytics, workflow technology, advisory and managed
services. Clients rely on CoreLogic to help identify and manage growth
opportunities, improve performance and mitigate risk. Headquartered in Irvine,
Calif., CoreLogic operates in seven countries. For more information, please
visit http://www.corelogic.com.

CORELOGIC, the CoreLogic logo and HPI are trademarks of CoreLogic, Inc. and/or
its subsidiaries.

SOURCE CoreLogic

Website: http://www.corelogic.com
Contact: Bill Campbell, for real estate industry and trade media,
bill@campbelllewis.com, (212) 995.8057; or Lori Guyton, for general news
media, lguyton@cvic.com, (901) 277.6066
 
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