Housing Values Continue Dropping

HousingWire reports housing prices fell 1.1 percent in Sept., marking the second straight month drop, according to the CoreLogic home price index. Single-family home prices fell 4.1 percent from Sept. 2010, and excluding distressed sales, dropped 1.1 percent from a year earlier. Core Logic Chief Economist Mark Fleming says prices will continue to fall through winter. “Even with low interest rates, demand for houses remains muted. Distressed sales remain a significant share of homes that do sell and are driving home prices overall.” September home prices have fallen 31.2 percent since their high in April 2006. Excluding distressed sales, the decrease has been 21.9 percent.

(Photo credit: Seth Perlman/AP)


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