U.S. house prices fell 0.2 percent on a seasonally adjusted basis from
September to October, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.9 percent increase in September was revised downward to reflect a 0.4 percent increase. For the 12 months ending in October, U.S. prices fell 2.8 percent. The U.S. index is 19.2 percent below its April 2007 peak and roughly the same as the February 2004 index level.
I have noticed that many re-sales have sold for 2005 or 2006 prices. This stat does not bode well for the 2004 buyers in our market.
Advertisements
