92% of U.S. Major Cities Continue to See Home Prices Fall
In a Press Release issued July 7, 2008 by Radar Logic, Inc., it would seem that primary U.S. cities are still experiencing a decline in housing market prices. The company, “a technology-driven data and analytics business that produces a daily spot price for residential real estate in major U.S. metropolitan areas,” calculates its findings based on actual market data, using “proprietary and transparent algorithms.” Their data reflects a continued slump in the housing market.
“For April 2008, evidence suggests that the broad housing slump continued as consumers showed persistent lack of confidence and difficulty in financing home purchases.
“Of the 25 Metropolitan Statistical Areas (MSAs) examined, one market showed a price per square foot (PPSF) increase, one was neutral, and 23 showed declines on a year-over-year basis; however, nine MSAs showed PPSF increases from March to April. Consistent with seasonal expectations, 21 MSAs showed a transaction count increase from March to April 2008.”
As bad as this may sound for the economy, this is actually GREAT news for foreclosure investors, first time home buyers, and anyone looking to buy a home at a huge discount any time between now and the next 6-12 months. So start your search TODAY, and get ready to make your move soon.
Read the Full Release: “RPX Monthly Housing Report.”
Copyright 2008, Radar Logic, Inc.
Tags: Foreclosure
