From Property Wire this morning, “Residential property prices in the United States fell 1.3% in October, the third monthly decline in a row, according to the latest CoreLogic Home Price Index.”
For our purposes, there is some very notable movement. “Including distressed sales, the five states with the highest growth were West Virginia which was up 4.8%, South Dakota up 3.1%, New York up 3%, District of Columbia up 2.4% and Alaska up 2.1%. Including distressed sales, the five states with the greatest drop were Nevada down 12.1%, Illinois down 9.4%, Arizona down 8.1%, Minnesota down 7.9% and Georgia down 7.3%.“
Nevada prices down 12.1%? Arizona down 8.1%?
You know what happens when I see numbers like that. Clear my calendar for the next few days! I need to spend some serious time analyzing properties in those ‘sexy’ markets. I’ve got three words on my mind today:
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