http://www.webtorials.com/mt/mt-cp.cgi?__mode=view&blog_id=7&id=519
Home price depreciation in the first quartetr fell ata 2.2 percent annualized compared with 12.5 percent in the fourth quarter of last Nationwide, home prices have fallen 10.4 percent beloqw their 2007 peak, the resultt of foreclosures and short sales, the reporgt found. Prices fell in 199 of 330 metropolita areas inthe study, down from 312 areaas in the fourth quartedr of 2008. ”While it's too early to see a botto m of thishousing downturn, this quarter's deceleratio n in the rate of decline may signal that the markef is beginning to stabilize," said James Diffley, group managing director of IHS Global Insight's Regional Services Group, in a news release.
however, continues to be one of the areas experiencingh thegreatest decline, along with California and Nevada. Fifty-sevem metropolitan areas had declines of more than 25 perceny from their peaks and 134 had declines greater than10 However, nine metropolitan areas – five in California and the rest in Arizona and Nevada – have seen priceds plummet by more than 50 percent from their peaks. The reporr suggests that the nation’s housing market is now slightlyu undervalued, with only the Pacifid Northwest – from Idaho to Utah – remaining overvalued. The report examined the top 330 U.S. real estate markets.
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