Home prices remain flat nationwide

In July, home prices around the country remained flat on a year-over-year basis, but in certain regions, relocating families are finding better prices for their for-sale homes.

National home prices held steady in July compared to a year earlier, the first time in five months that there were no year-over-year gains, reported CoreLogic. But the company's home price index did report rising year-over-year home prices in some regions. Maine was the state with the highest home price appreciation when including distressed sales, at 4.5 percent. South Dakota came in closely behind at 4.3 percent.

On the other hand, a person who is moving from Idaho might be discouraged to learn that home prices there have depreciated 12.6 percent over the past year. Alabama has the country's second largest rate of depreciation when including distressed sales, at 9.7 percent.

"Although home prices were flat nationally, the majority of states experienced price declines and price declines are spreading across more geographies relative to a few months ago," said Mark Fleming, the company's chief economist. "Home prices fell in 36 states in July, nearly twice the number in May and the highest since last November when national home prices were declining."

Falling home prices can mean good news for a buyer who is considering moving to a new home. On the other hand, sellers may have to think about holding off their moving plans until they can find a better price.
 

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