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« Welcome to the ugly reality of the a recissionreal | Main | May's new-home sales in U.S. drop 33% from a year earlier » June 30, 2009Home prices down – but not as much as the month before
The slowing pace of decline suggests that the US housing market is moving toward stabilization.
The 0.6 percent gain in Bay Area prices is modest, but along with other indicators, it’s a sign that US real estate markets are beginning to move from crisis toward normalcy. California, after all, has been one of the hardest-hit housing markets in America. Now the state is showing some signs of improvement, and across the United States, home prices are no longer falling in such a uniform or steep fashion. Overall, the Standard & Poor’s/Case-Shiller index of 20 large US cities showed home prices down 0.6 percent in April – less than the 2.2 percent one-month drop it posted in March. In other words, the market may be starting to bottom out. Some metro areas are still in much tougher shape than others, with declines in Miami and Las Vegas offsetting the positive news in San Francisco. But the slowing pace of decline suggests that the housing market is taking important steps toward stabilization. ">click here for the complete story from Mark Trumbull Posted by Jeff Brooks on June 30, 2009 08:12 PM | Permalink TrackBackTrackBack URL for this entry: |
