Home prices nationwide fell in June by 6.8 percent compared to a year earlier, data analysis company CoreLogic said on Wednesday.

Excluding distressed sales, prices declined just 1.1 percent year-over-year, according to CoreLogic’s home price index.

The expiration of the homebuyer’s tax credit last year helps explain the year-over-year price decline, according to Mark Fleming, chief economist for CoreLogic. He added that price drops were more concentrated in the distressed sales market.

Home prices, including distressed sales, have fallen 31.7 percent from their peak in April, 2006.

May year-over-year total home prices declined 6.7 percent, revised from 7.4 percent, while May year-over-year prices excluding distressed sales declined 2.1 percent, revised from 0.4 percent. (Reuters)