Home Prices Continues to Drop
June 13, 2008 8:00 am Information
Record shows that as early as this year, home prices continued to decline in increasing rate. Single-family home prices dropped by 11.4% in 10 major metropolitan areas last January, this is according to S&P/Case-Shiller home-price indexes. This index data track the price path of single-family homes in particular metropolitan area by matching it to the price pairs of many individual houses. In their data, Las Vegas and Miami were the weakest home market last
January with at least 19% decline. Followed by Phoenix, with 18.2% decline and Washington & Minneapolis with 10.9% and 10% decline, respectively
Also, because of an increased abundance of foreclosed homes in the market is likely pushing down house prices in some areas.
(image source : .abc.net.au)