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Overseas Property News
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USA property prices to fall further
Country: United States
7 May 2009 It could be a while yet before the USA property market bottoms out, according to a Business Standard Report. The Case-Shiller index of property values in the top ten cities in America shows that average property prices in the United States depreciated by 2.1% in February, a slower rate of decline, compared to the 2.6% fall recorded in January. Despite the slowdown in price falls, “better isn’t synonymous with good”, says the report. Average prices have fallen 18.8% over the past year, according to the index. The report points to the fact that one month’s data does not make a trend, and that Spring is traditionally the busiest time for selling homes. “Home prices will eventually reach bottom. But it’s not yet in view”, concludes the report.
See Also: USA
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Price: £8,515
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