Nashville-area home prices declined slightly in October and November compared to a year prior, according to a report released by CoreLogic today.
Home prices in the Nashville-Davidson-Murfreesboro-Franklin area, including distressed sales, decreased by 0.2 percent in October and by 0.5 percent in November.
Excluding distressed sales, prices climbed by 0.6 percent in October and rose by 1.1 percent in November.
Nationally, year-over-year home prices declined by 3.7 percent in October and fell by 4.3 percent in November.
"With one month of data left to report, it appears that the healthy, non-distressed market will be very modestly down in 2011," saidÂ Mark Fleming, chief economist for CoreLogic, in a press release. "Distressed sales continue to put downward pressure on prices and is a factor that must be addressed in 2012 for a housing recovery to become a reality."
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Source:Â Nashville Business Journal