The document summarizes home price data from various sources in January 2012. It finds that while most measures showed slight monthly price increases in November, year-over-year declines remained small. Distressed home sales made up 32% of the market, down from 40% a year ago. The outlook anticipated limited new construction supply balancing with low inventories, declining delinquencies, and potential economic improvements supporting home prices.

1. Home Price Monitor January 2012 National Association of REALTORS® Research Division Cutting Through the Noise: Various Home Price Measure

4. Home Prices Sources: NAR, Case-Shiller, CoreLogic, FHFA, Census, HAVER

5. Home Price Data – Year over Year Change Sources: NAR, Case-Shiller, CoreLogic, FHFA, Census, HAVER

6. Home Price Changes *All data are not seasonally adjusted. Monthly changes should typically be computed only for Seasonally Adjusted (SA) data. Because these change rates are often covered in the media regardless of their suitability for analysis, they are presented here but should be used with caution. Annual (yr-over-yr) changes computed for Not Seasonally Adjusted (NSA) data give a measure that is not affected by seasonal fluctuations. Sources: NAR, Case-Shiller, CoreLogic, FHFA, Census, HAVER

7. Spread of Existing Home Price Changes Year over Year Sources: NAR, Case-Shiller, CoreLogic, FHFA, HAVER

8. Supply and Demand Factors – Inventory Sources: NAR

9. Supply – New Housing Starts and Permits Sources: Census

10. Underlying Demand – Job Growth and Hires Sources: BLS

11. Potential Job Growth – Openings Sources: BLS

12. Housing Affordability Sources: NAR

13. About the Price Data Series Sources: NAR, Case-Shiller, CoreLogic, FHFA, Census, HAVER