Just a quick post here, since I’ve grown tired of beating a horse that has long since kicked the bucket, shuffled of its mortal coil, rung down the curtain and joined the bleedin’ choir invisible.
According to the latest from data provider CoreLogic, home prices declined again in December, marking the fifth consecutive month of price declines. Home values were down 5.4 percent from December 2010. Prices were down 1.8% percent from November to December. Since the 2006-2007 peak, home values are down 31.6%. Mark Fleming, chief economist for CoreLogic commented:
“It was a bumpy ride which ended with a net gain/loss of zero. Despite the continued monthly decline in home prices and year-over-year depreciation, we’re encouraged that on an annual basis we’re unchanged relative to a year ago. Excess supply continues to drive prices downward, but the silver lining is that the rate of decline is decelerating.”
Many analysts expect that home prices will continue to fall in 2011 as a result of the persistent excess supply of housing and the anemic demand for it.
Loading ...
RSS feed for comments on this post.
Leave a comment