CoreLogic: Fresno's December home prices fall

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Published on 02/03/2012 - 1:27 pm

Written by Business Journal Staff

home prices fallFresno home prices, including distressed sales, declined by 9.4 percent in December 2011 compared to the previous December.

Prices also fell by 10 percent in November of 2011 compared to November of 2010, CoreLogic, a provider of consumer, financial and property information, reports.

Excluding distressed sales, year-over year prices declined by 8.8 percent in December 2011 compared to December 2010 and by 9.6% in November 2011 compared to the same month one year earlier.

In California, the home price index for single-family homes excluding distressed homes dropped by 6.3 percent from December 2010 to December 2011.

“Until distressed sales in the market recede, we will see continued downward pressure on prices,” said Mark Fleming, chief economics for CoreLogic in a released issued Feb. 3.