 March 7, 2012 Home Price Declines
March 14, 2012
Home Price Declines Continue to Slow
National housing prices fell 1.9 percent in February compared to February 2011, the lowest annual decline in over 10 months, according to Clear Capital. Quarterly home prices are also showing some stabilization, declining by only 0.6 percent in February compared to the previous quarter.
Of the four regions, the Midwest posted the largest annual price decline at 4.3 percent and the largest quarterly decline of 1.8 percent, due to higher unemployment and a higher level of REO saturation. Despite higher REO saturation in all four regions, it has had little effect on home prices. Instead, several other factors are helping to stabilize prices, including an improving job outlook, an increase in investor sales activity and an increase in demand.
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