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(us) Home Prices Drop 8.9 Percent In 3 Months

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Home Prices Drop 8.9 Percent in 3 Months

Tuesday February 26, 9:18 am ET

Key Home Price Index Shows Record Declines in 2007, Double-Digit Drops in 8 Metro Areas

NEW YORK (AP) -- A closely watched study shows U.S. home prices falling 8.9 percent in the fourth quarter of 2007. That marks the largest drop in the index's 20-year history and a full year of declining values.

The Standard & Poor's/Case Shiller home price indices reflect year-over-year declines in 17 metropolitan areas with double-digit declines in eight of them.

Index architect Robert J. Shiller said "wherever you look things look bleak."

The quarterly index tracks prices of existing-family homes nationwide compared with a year earlier.

How far behind the US is the UK? Annualised this is 35 pct yoy!!

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It's sloppy reporting in general. It's actually 9.1% December 06 to December 07, or 8.9% Q4 6 to Q4 07.

It is not 8.9% in three months. It is just over 5% in three months, but since Case Shiller isn't seasonally adjusted, that statistic doesn't tell you much.

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I think it depends what part of the UK you are talking about...

NI Price Drops

NI prices appear to be taking a battering. How long before the rest of the UK does too?

Yes, according to the recent University of Ulster reports - the average Northern Ireland house price fell by £20k in a 3 month period. That's £6,500 a month! And we have estate agents here saying that drops of 20% (£50k) are needed to sell anything!

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  • 298 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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