Tuesday, Sep 26, 2006

It's official - US house prices are now falling

MoneyWeek: Will the US housing market achieve a soft landing?

The price of existing homes - which account for about 85% of the housing market - in the US fell year-on-year for the first time in 11 years last month. The median price of a previously-owned house fell 1.7% on last August, down to $225,000 (about 118,000), said the National Association of Realtors.

There was some good news however - sales fell just 0.5% in the month, much less than analysts had expected. So what are the chances that the US will see a UK-style housing bounce?

Posted by mary @ 10:16 AM (549 views)
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