Home Prices Down In September–Altos Research | Black Swan Insights
Oct 05, 2010
We speculated that prices should continue to decline, especially after the expiration of the home buyer’s tax credit. From the data I have seen the decline in prices really started in July and August. This fact was not reflected in the most recent Case Shiller index because it uses a three month weighted average. So next month we should finally start to see Case-Shiller roll over. About the only bright spot from this report was the decline in inventory in some areas. This should not be material because in the key bubble areas like Los Angeles and Phoenix, inventory is still increasing. The housing market will not stabilize until these areas do.
Home Prices Down In September–Altos Research | Black Swan Insights.
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