Us property prices fell 4.7pc nationwide in 2011, latest data shows

Residential property prices in the United States fell by 4.7% in 2011 compared with 201, the fifth consecutive yearly decrease, the latest index from Core Logic shows.

It is the first end of year report showing what has happened in the market throughout 2011 and indicates that although there is an overall decline, the state by state picture varies.

Also, if distressed sales, that is short sales and real estate owned (REO) transactions, are excluded from the figures, then prices fell by 0.9% in 2011, giving an indication of the impact of distressed sales on home prices in the last 12 months.

The report shows that national home prices including distressed sales decreased 1.4% on a month on month basis, the fifth consecutive monthly decline. However, the HPI excluding distressed sales posted its first month on month gain since July 2011, rising 0.2%.

Source: Property Wire