Springs home values appreciate

Colorado Springs home prices, including distressed sales, increased by 2.73 percent in June 2010 compared to June 2009, according to the CoreLogic Home Price Index released today.

The result is still less than CoreLogic’s May’s year-over-year HPI, which coincided with the expiration of the Home Buyer Tax Credit was 3.64 percent .  Excluding distressed transactions, year-over-year HPI for June is 1.80 percent, compared to May which was 2.84 percent.

Colorado was still ranked behind the five states with the highest appreciation, including distressed sales, in June. They include: South Dakota (6.9 percent), Maine (6.4 percent), California (5.9 percent), Virginia (4.7 percent), and District of Columbia (4.3 percent).

The top five states with the greatest depreciation, including distressed sales, were Idaho (-9.1 percent), Alabama (-3.8 percent), Oregon (-3.5 percent), Washington (-3.4 percent) and New Mexico (-3.2 percent).

But even in a relatively healthy state like Colorado, the broader economic outlook for home sales remains conservative.

“Home price volatility and collateral risk remain very high. The stabilization phase and policy intervention since the spring of 2009 has run its course. Prices are expected to further moderately decline as the economy remains weak through the fall,” said CoreLogic Chief EconomistMark Fleming.

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