For 31 consecutive months, the declining housing industry continues to plague home sellers as homes extended their losing streak. The index fell 18.^% from Feb. 2008 and in Jan. 2009 the index was also down by 2.2%.
In Phoenix, AZ, prices in many neighborhoods are off to 40% to 50% from their highs. Las Vegas NV, has recorded more foreclosures than any other cities in the country is close behind Phoenix. Prices are off by 48.4% from their peak. Other big losers are San Francisco is down to 3.3% this month. Miami FL, drops to 3% month over month. Los Angeles sheds 2% on a monthly basis.
Several news comes after government data release last Friday, showed that home sales fell in March. Just last week more data showed that existing-home sales drop last March and median prices fell by 12% according to National Association for Realtors (NAR).
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment