Economists See More Home Price Declines Ahead – US News and World Report

Economists See More Home Price Declines Ahead – US News and World Report.

Although home prices increased slightly in June, economists warn that real estate values appear to be headed for fresh declines.

Home prices in 20 major metropolitan areas inched 1 percent higher from May to June on a non seasonally adjusted basis, according to the S&P/Case-Shiller home-price report, which was released Tuesday. But David Blitzer, the chairman of the Index Committee at Standard & Poor’s, attached a note of caution to the optimistic looking figures. “While the numbers are upbeat, other more recent data on home sales and mortgages point to fewer gains ahead,” Blitzer said in a statement accompanying the release.

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