Homes in Peoria losing value

By WEEK Producer

Homes in Peoria losing value

December 4, 2012 Updated Dec 4, 2012 at 11:24 AM CDT

PEORIA, Ill. -- Homes across the Peoria area are losing value, according to new data released Tuesday by CoreLogic.

The data shows home prices in Peoria declined by three percent in October this year compared to this same time last year.

On a month-over-month basis, home prices decreased by 1.2 percent in October 2012, compared to September 2012.

CoreLogic reports that national home prices increase on a year-over-year basis by 6.3 percent in October, the biggest increase nationally since June 2006.

On a month-over-month basis, home prices decreased by 0.2 percent from September to October of this year.

CoreLogic data indicates that national home prices are expected to rise by 7.1 percent in November this year compared to last year at the same time.

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