Home price index: Grand Junction market down 14 percent

Home prices in Grand Junction have declined more than 14 percent over the past year, according to the latest results of a monthly analysis by a California-based firm.

CoreLogic reported that its Home Price Index (HPI) for Grand Junction, including distressed sales, was down 14.41 percent in August compared to the same month last year. Excluding distressed transactions, the HPI fell 9.81 percent over the same span.

In Colorado, the HPI including distressed sales was down 1.7 percent in August 2010 compared to August 2009. Excluding distressed sales, the HPI slipped two-tenths of a percent.

Nationally, the HPI including distressed sales fell 1.5 percent in August compared to the same month last year. Excluding distressed sales, the HPI slipped four-tenths of a percent.

“Price declines are geographically expanding as 78 out of the largest 100 metropolitan areas are experiencing declines, up from 58 just one month ago,” said Mark Fleming chief economist for CoreLogic, which provides a range of information and services to business and government clients.

The top five states with the highest depreciation in home prices were Alabama, Florida Idaho, Oregon and Utah.

The top five states with the highest appreciation were Connecticut, New York, Maine, South Dakota and Virginia.