U.S. home prices down 1.1% in Sept: CoreLogic

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U.S. home prices down 1.1% in Sept: CoreLogic (by Greg Robb)

WASHINGTON (MarketWatch) -- U.S. home prices fell 1.1% in September, the second consecutive monthly decline, according to CoreLogic. Year-over-year, prices are down 4.1%. Excluding distressed sales such as short sales and real estate-owned transactions, year-over-year prices fell 1.1%. Mark Fleming, chief economist for CoreLogic, said prices will continue to adjust to market fundamentals of high inventories and weak demand. "We expect declines to continue through the winter," Fleming said. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time.

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