Idaho’s home price decline can’t compete with the fall seen in some states, according to data from First American CoreLogic, a property information database. Idaho’s home price index is down 2.4 percent from a year ago, compared to a national drop of 10.4 percent.
A report in the Idaho Business Review explains that First American uses data from repeat-sales transactions to calculate home price index, tracking increases and decreases in sales prices for the same homes over time. The information in the most recent report uses the home price index to compare October home prices with those of a year earlier.
The states whose home prices fell the most were California (28.3 percent), Nevada (25.4 percent) and Arizona (20.1 percent). Seven states saw rising home values, including West Virginia (up 5.9 percent), South Dakota (up 2.9 percent) and Texas (up 2.7 percent). Twenty-four states performed better than Idaho and 25 performed worse, according to the report.
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