It’s Official. The housing market is in a Double Dip. A new report shows prices are now lower than our previous bottom in March of 2009.
Report highlights include:
- National quarterly home prices changed -4.9%; while year-over-year national price changes reached -5.0%.
- National home prices have fallen 11.5% over the previous nine-month period, a rate of decline not experienced since 2008.
- In a sign of the continued volatility and fragility of home prices, all the major Metropolitan Statistical Areas (MSA) tracked in this month’s report showed quarter-over-quarter price declines.
- National REO saturation rate reaches 34.5%.
National Home Price Trend (2008 to 2011)
