Tuesday, March 31, 2009
Housing bubble continues to deflate
In 20 major cities, home prices sank by the sharpest annual rate on record in January. Some metro areas did experience a slowing in the rate of price declines.
The cumulative decline in the 20 city index is 29% since the peak of the market during the summer of 2006, and the index is currently about where it was in 2003.
As painful as it is for some homeowners, especially those that purchased and financed homes in 2005-2006 and are almost certainly upside down, the market continues to clear.
1 Comments:
By 
, at
Tue Mar 31, 05:44:00 PM:
Stating the obvious: The flip side of the coin is that it is an opportunity for buyers.
