US Housing Market Can't Find Bottom NuWire Investor
The Federal Housing Finance Agency (FHFA) has released the results for 2011’s third quarter housing market data, and it appears home prices have further yet to fall before reaching bottom. The FHFA reports a seasonally adjusted 7.22% drop in prices from last year, while the Case-Schiller index puts the drop at 7.42%. Analysts at Freddie Mac note that home prices will likely fall further due to the large inventory of homes with delinquent mortgages, and the sentiment is strengthened by news that the house price-to-rent ratio suggests homes are not currently undervalued. That inventory is slowly dropping, however, and homebuilder confidence is rising, which offers a glimmer of hope in an otherwise dismal real estate market forecast. For more on this continue reading the following article from Global Property Guide .
The US housing market has drifted lower, with house prices falling by 7.22% (seasonally-adjusted) year-on-year to Q3 2011, according to the Federal Housing Finance Agency (FHFA) (figures adjusted for inflation). The seasonally-adjusted Case-Shiller index was more negative, falling by 7.42% from a year earlier, and by 1.61% in the latest quarter.
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