U.S. home prices up 0.7% in June: CoreLogic

WASHINGTON (MarketWatch) -- U.S. home prices rose 0.7% in June, the third consecutive monthly increase, according to CoreLogic. Year-over-year, prices are down 6.8%. Excluding distressed sales such as short sales and real estate-owned transactions, year-over-year prices fell 1.1%. "While there is a consistent and sustained seasonal improvement in prices over the last three months, prices are lower than a year ago due to the decline in prices after the expiration of the tax credit last year. The difference between the overall HPI and our index excluding distressed sales indicates that the price declines are more concentrated in the distressed sales market," said Mark Fleming, chief economist for CoreLogic. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same homes over time.  read full article here