US Economic Crisis: Housing Prices

The drop in housing values in the 20 largest U.S. cities in March exceeded forecasts. According to the index S & P / Case-Shiller, the decline in the prices became 18.7% compared with that of March 2008. Analysts of the agency Bloomberg predicted reduction index of home prices to an average of 18.3%. Prices have decreased greatly especially in Phoenix, Las Vegas and San Francisco. Experts note that a record number of deprivations of property rights contributes to a fall in housing prices and makes it more accessible. In this regard, the rate of sales decline is slowing, and perhaps it will eventually stabilize, experts add.


The cost of housing in the United States in March fell by 2.2% compared with that in February 2009. In the 1st quarter of 2009, prices fell by 19.1% compared to those of the same period in 2008, which makes it the maximum decrease from the beginning of tracking such data in 2001.

Meanwhile, sales in the secondary housing market in the United States increased in April on annual cost accounting by 2% and reached 4.66 million homes. Such forecast was issued by Bloomberg News after survey of several experts. In March 4.57 million homes were sold.

US Economic Crisis: Housing Prices