Home prices fell for a seventh straight month in February as a wave of distressed properties continued to wash over the U.S. market, real-estate data company CoreLogic Inc. said Thursday.
Chattanooga’s real estate market fared better than the U.S. as a whole, but local home prices were still down in February from the same time a year ago.
CoreLogic’s national home price index dropped 6.7 percent in February, versus the same month a year earlier. The decline was bigger than the January index reading, which was 5.5 percent lower than a year ago.
In Chattanooga, home prices, including those of distressed sales, declined by nearly 5.4 percent in February compared with a year ago. But excluding distressed sales, home prices in Chattanooga rose a modest 1.4 percent over the past year, CoreLogic said.