The CoreLogic index of Baton Rouge home prices was down 5.8% in April, when compared with the previous year’s figures. This is the ninth month in a row the local index was down. The CoreLogic Home Price Index for Louisiana saw a smaller decrease, falling 4.8% when compared with April 2010. The national index was down by 7.5%, also its ninth consecutive year-to-year drop. However, from March to April, the national index rose by 0.7%, the first month-to-month change since the federal tax credit for first-time homebuyers expired in mid-2010. Mark Fleming, chief economist for CoreLogic, says that change provides reason for “cautious optimism.” “While the economic recovery is still fragile and one data point is not a trend, the month-over-month increase based on April sales activity is a positive sign,” Fleming says. CoreLogic bases its indexes on public sale records and databases. For more real estate news, visit Real Estate Weekly here.
B.R. home price index falls again
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