Home prices fall in November for 4th month: CoreLogic

NEW YORK (Reuters) – House rates fell for a fourth straight month in November as distressed sales continued to weigh on costs, information analysis firm CoreLogic said on Monday.

CoreLogic's (CLGX.N) property value index fell 1.4 percent in November from the previous month. Compared with November of last year, prices were down 4.three percent, steeper than the three.7 percent year-over-year decline observed in October.

Excluding distressed sales, rates had been off just .6 percent in November on a yearly basis. Homeowners in danger of foreclosure, or in &quotdistress,&quot typically sell their houses at a considerably reduced value.

&quotDistressed sales continue to put downward pressure on costs and is a aspect that should be addressed in 2012 for a housing recovery to grow to be a reality,&quot Mark Fleming, chief economist at CoreLogic, said in a statement.

Of the top 100 statistical places measured by population, 77 showed year-more than-year declines, down from 80 in October.

(Reporting By Leah Schnurr editing by Jeffrey Benkoe)

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