It's official. CNBC reported today that home prices have double dipped nationwide, now lower than their March 2009 trough, citing a new report from Clear Capital.
A surge in sales of foreclosed properties and a big push by banks to facilitate short sales would force home prices down dramatically.
Sales of bank-owned (REO) properties hit 34.5 percent of the market, according to the survey, resulting in a national price drop of 4.9 percent quarterly and 5 percent year-over-year. National home prices have fallen 11.5 percent in the past nine months, a rate not seen since 2008.
Talking about NYC (Brooklyn and Bronx), of course we have the same situation: declining housing prices.
In this downturn housing market, if you need to sell your house fast, you may have a hard time.
But there is always a way.
For more information, please visit our website.
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