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LI saw home price declines in 2010

New York was among the five states with the highest home price appreciation for 2010, according to Core Logic’s Home Price Index, but Nassau and Suffolk saw declines.

Excluding distressed home sales, homes in New York State appreciated by 3.27 percent. And even including distressed sales, prices still rose 1.66 percent for the state.

In Nassau and Suffolk, home prices -- including distressed sales -- declined by 2.99 percent in December 2010 compared to December 2009 and fell 2.50 percent in November 2010 compared to November 2009. Excluding distressed sales, year-over-year prices dipped by 3.32 percent for December and declined by 2.84 percent for November.

Nationally, 2010 was a wash: Despite peaks and valleys fueled by the federal tax credit deadlines, ultimately the index showed no change for the year relative to 2009. The stabilization in annual prices follows double-digit declines in 2008 and 2009. CoreLogic says that’s a sign that the worst declines are over.

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