More Negative News Flow Coming | Business News
Aug 25, 2010
More Negative News Flow Coming | Business News.
First, as I noted in the existing home inventory post, the months-of-supply will probably stay in double digits for some time and anything over 7 or 8 months of supply will put downward pressure on house prices. However it will take some time for reported house prices to start declining. The Case-Shiller house price index for June will be reported next week (really a 3 month average of April, May and June). And prices probably didn’t start falling until July. The July numbers will not be reported until the end of September, and that will be a 3 month average of May, June and July. So it might take until the end of October to see the price declines in the Case-Shiller indexes.
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