Friday, February 9, 2007

More US housing bad news

US house price fall steepest since 1963

The median price of a US home peaked at $257,000 (£130,400) in April last year after climbing 40pc over three years. By December the median price had fallen back 8.6pc to $235,000, the sharpest drop since the US Census Department began data in 1963.

Posted by sold 2 rent 1 @ 10:00 AM (527 views)
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5 thoughts on “More US housing bad news

  • dohousescrashinthewoods says:

    Some remarkably positive tone in there towards the end.
    I can’t tell if this is the US trying a different tack to pretend things are bottoming out and about to rebound (as they have been doing at every turn since the slide began) or whether there is a genuine possibility that these factors a) exist and b) are sufficiently large to make a difference.

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  • Sentiment

    Trend is your friend and the bottom is nowhere in sight yet.

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  • Didn’t realise houses were so much cheaper over there – maybe we should all move there and buy up Idaho or Nebraska.

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  • The US housing market is an interesting case as the past rapid house price increases and now crash depend on what state you look at. Some of the big cities, DC, San Diego are experiencing the most pronounced crash at the moment. Hence, in some cities the drop is far worse than the statistics show.

    The state where I live, North Carolina has experienced a steady HPI over the past few years and no crash is expected. Sadly, we are now experiencing a big influx of buyers from the big cities who fell areas of house crash, pay cash for a house down here and have equity to live off for a while til they find a job.

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  • The previous comment is an interesting one for me living in the UK, buyers living off equity until they find a job!

    What a stressful and risky way to live!

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