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ยป VISIT US ONLINE @ DSNEWS.COM 85 actional data from our leading marketplace that provides forward-looking insight for the distressed market as well as a good barometer for the larger retail housing market," said Jason Allnut, CEO Auction.com. e Q1 2019 the report notes that sched- uled foreclosure auctions decreased 1% from a year ago nationwide but were up in 30 states, including California, Texas, Colorado and Nevada. It indicated that the declining rate of completed foreclosure auctions as a percentage of scheduled foreclosure auctions in the first quarter shows more distressed homeowners who fall into foreclosure are able to avoid a completed foreclosure. "Solid real estate investor demand and a limited supply of distressed properties continues to push average prices up in most parts of the country," said Ali Haralson, Chief Business Development Officer at Auction. com. "Even in areas with decreasing prices, the decrease can often be explained with a shift in the type of inventory being sold at auction." Foreclosure auction properties sold for 20.8% below estimated market value on average in the first quarter, down from 23.5% average discount in the previous quarter but up from 19.7% average discount in Q1 2018. SOUTH DAKOTA The Curious Case of Slowing Home Prices Home prices across the country in the first half of 2019, grew at their slowest pace since 2011, according to an analysis of CoreLogic's Home Price Index (HPI). While home prices in other states rose at a more stately pace, South Dakota was among the only three states where home price appreciation declined. While South Dakota saw a depreciation of 4.7%, home prices in Connecticut and Dela- ware depreciated 0.4% and 0.2% respectively. Looking at the states where home price appreciation was the highest, the analysis found that Idaho led the pack. In fact, this Western state has been leading home price appreciation for nine straight months and had an annual appreciation of 9.9% this June. "Prices in 40 states (including the District of Columbia) have risen above their nominal pre-crisis peaks. Of the seven states that had larger peak-to-trough declines than the na- tional average, California, Idaho, and Michi- gan have surpassed their nominal pre-crisis peaks as of June 2019," Molly Boesel, Principal Economist, Office of the Chief Economist at CoreLogic wrote on the company's blog. e analysis by CoreLogic indicated that homes could get more affordable especially in the lowest-tier. While home prices rose 3.4% year-over-year in June, the first-half 2019 home price increase was 2.9%. CoreLogic then analyzed four home-price tiers to determine what kind of housing had seen the most slow- down in home prices in the first six months of 2019. It found that while all the four price tiers saw a slowing in price appreciation ranging between 2.2 to 3.4 percentage points compared with a year ago, the lowest price tier homes saw the largest slowdown. is, despite the lowest price tier increasing 5.5% year-over-year in June 2019, compared with 4.5% for the low- to middle-price tier, 3.8% for the middle- to moderate-price tier, and 2.8% for the high- price tier. "e overall HPI has increased on a year- over-year basis every month for seven years (since February 2012) and has gained 61.4% since hitting bottom in March 2011," Boesel said. "As of June 2019, the overall HPI was 8.5% higher than its pre-crisis peak in April 2006. Adjusted for inflation, U.S. home prices increased 2.7% year-over-year in June 2019 and were 11.4% below their peak." GET YOUR DAILY DOSE OF DEFAULT SERVICING NEWS Start your day with the most current and critical news on the mortgage default servicing industry from DSNews.com. Sign up for our e-mail newsletter and get the top stories delivered direct to your inbox every day. Register to receive your Daily Dose at DSNews.com GET YOUR DAILY DOSE OF DEFAULT SERVICING NEWS Start your day with the most current and critical news on the mortgage default servicing industry from DSNews.com. Sign up for our email newsletter and get the top stories delivered direct to your inbox every day. Register to receive your Daily Dose at DSNews.com According to CoreLogic data published in September, South Dakota was one of only two states showing a decrease in home price appreciation in July 2019. KNOW THIS