Declines in housing prices concentrated in higher-priced areas and are causing U.S. price levels overall to move closer together, according to a new report from CoreLogic.
This is measured when considering home prices in real dollar terms rather than by percentages.
What CoreLogic is seeing is that the top markets for home price appreciation are somewhat different — and high-priced — in areas such as San Jose and Santa Barbara, which have entered the top 10 rankings thanks to base prices that were already at a higher level than most other areas of the country.
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