Home Prices — Largest Drop in 16 Years!
According to a housing index released Tuesday by Standard & Poor’s, their housing index showed home prices in the U.S. fell for a 17th straight month.
During April, the S&P/Case-Shiller index that covers 10 U.S. cities fell 2.7 percent from year-ago levels, making it the steepest decline since 1991.
“No region is immune to the weakening price returns,” MacroMarkets Chief Economist Robert Shiller said in a statement.
The greatest year-over-year declines were felt in Boston, Detroit, Phoenix, San Diego and Washington, D.C..
Though the housing slump has been a nationwide epidemic, a few regions posted year-over-year housing price gains including Charlotte, N.C., Seattle, WA and Portland, Ore.
And four cities reported price increases in April from March, including Atlanta, Boston, Dallas and Denver.[tags] real estate bubble, housing bubble, real estate market, home values, home prices, San Diego real estate{/tags] condos downtown San Diego
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San Diego real estate has continued its slide. Homes are languishing on the market for many months while the inventory of unsold homes valley-wide has grown to more than 50,000 in March. No real change is expected before the middle of 2008. seo software
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Home sales are down throughout San Diego compared to 2005 and the market has shifted from a seller’s market to a very strong buyer’s market. Sales are down and the number of homes for sale has really grown. gold nuggets
San Diego home prices have dropped and have made it more affordable for buyers to get into the market. There are a wide variety of homes and prices available San Diego research trials