The first, its national March home price index, shows housing prices declined a modest 0.6 percent from the same time last year. But prices were up from February, marking the first monthly increase in the U.S. since July 2011.
In the Bradenton-Sarasota area, home prices increased by 3.5 percent in March 2012 compared to March 2011 and increased by 3.1 percent in February 2012 compared to February 2011. Excluding distressed sales, year-over-year prices rose 2.9 percent in March 2012 and 0.5 percent in February, the report shows.
It looks like prices are beginning at least plateau, a trend many experts believe has been fanned by a culmination of strong sales and dwindling housing inventories.
When that happens, it usually means new construction picks up. And that may be the best news yet for Southwest Florida.
Home prices in the Sunshine State are still down 48 percent from their peak.
The second CoreLogic report, the MarketPulse Index, is a longer summary of the firm's expectations heading forward. Here are some of the highlights:
- Short sales and mortgage modifications are playing a larger role than in years past, while the flow of new foreclosures is declining with an improving economy.
- Home sales activity continues to improve, with total sales eclipsing 410,000, up more than 20 percent from a year ago and the highest March sales rate since 2007.
- The most improved markets this year are Phoenix, Boise and Salt Lake City.
- Home prices are at, or very close to, the bottom as the Memorial Day weekend approaches.
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