Despite of the government effort to improve the housing market, the prices keep to be in a free fall. According Forbes article house prices in January are 18% lower than December last year and this is after billion of dollars were put on the financial institutions, Fennie and Freddie become landlords and most of the biggest banks froze the foreclosures. Where are we going and when the bottom will be hit? Here is the article.
They hit decade lows but analysts expect the housing market to improve soon.
Home prices reached decade lows, the National Association of Realtors reported on Wednesday, but that should turn around soon as conditions change.
The pace of U.S. existing home sales fell in January to a 4.5 million-unit annual rate, while home prices and inventories dropped, the NAR said."Given so much stimulus package discussion in January, some would-be buyers simply sat out for clarity and certainty on the nature of housing stimulus," the report stated.
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