Home Prices Drop in Norwalk in Contrast to National Trend

A new report released by CoreLogic shows that home prices in the -Bridgeport-Stamford area, including distressed sales, declined by 3.2 percent in June 2012 compared to June 2011.

In addition the firm's monthly Home Price Index report shows area prices dipping by 3.4 percent in May 2012 compared to May 2011.

Excluding distressed sales, year-over-year prices declined by 0.1 percent in June 2012 compared to June 2011 and declined by 1.5 percent in May 2012 compared to May 2011, according to a press release.

This is in contrast to the national trend: According to the report, US sales, including distressed sales, increased on a year-over-year basis by 2.5 percent in June 2012 compared to June 2011.

On a month-over-month basis, US home prices increased by 1.3 percent in June 2012 compared to May 2012. The June 2012 figures mark the fourth consecutive increase in home prices nationally on both a year-over-year and month-over-month basis, according to CoreLogic.

In terms of the May price figures, the data is also in contrast with recent research from the University of Connecticut School of Business, Center for Real Estate and Urban Economic Studies, showing that single family

For more, check out the press release.