NEW YORK (Reuters) - U.S. home prices fell again in February, but prices excluding distressed sales managed a gain, signaling stabilization for the battered sector, a report from a data analysis firm showed on Wednesday.
CoreLogic’s (CLGX.N) home price index declined 0.8 percent from January, falling for the seventh month in a row. They were down 2.0 percent compared with the same time a year ago.
Excluding distressed sales, however, prices gained 0.7 percent from the previous month. Homes that are in danger of foreclosure or have been seized by lenders are often sold at a significantly reduced price.
Compared with last year, prices excluding distressed sales were down just 0.8 percent.
Of the top 100 statistical areas measured by population, 67 showed year-over-year declines, down from 76 in January.
Reporting By Leah Schnurr; Editing by Theodore d'Afflisio