Home Prices Fall: More Drops Expected

Home prices in the U.S. fell 5.1 percent in November compared to a year earlier and are expected to go lower as the housing market struggles to seek its bottom.44 states showed declines compared to June with 18 states declining.  At that time the federal tax credit was still distorting the true market place.
It is expected that home prices may continue to fall another 5 to 7 percent.
Mark Zandi, of Moody’s expects home prices to continue to decline, until at least midyear, and perhaps as much as 5 percent, . When prices hit bottom, the crash will have lasted five years and driven prices 35 percent off their 2006 peak.  Nevada prices far exceed the nationwide numbers.

Read more here.

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About rereno

Real estate investor
This entry was posted in Economy, Government, Real Estate, Taxes and tagged , , . Bookmark the permalink.

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