The CoreLogic index of Baton Rouge home prices was down 2% in July, when compared with the previous year’s figures. This is the 12th month in a row the local index was down. The CoreLogic Home Price Index for Louisiana saw a smaller decrease, falling 1.6%, when compared with July 2010. The national index was down by 5.2%, also its 12th consecutive year-to-year drop. However, from June to July, the national index rose by 0.8%, the fourth consecutive month-to-month change. Mark Fleming, chief economist for CoreLogic, says he expects price drops to occur once summer ends. “The slowdown in economic growth and increased uncertainty caused by the recent stock market volatility will continue to exert downward pressure on prices,” Fleming says. CoreLogic bases its indexes on public sale records and databases. Read the rest of Real Estate Weekly here.
B.R. home prices falling faster than state average
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