“I suspect that we are coming to the end of the housing downturn, as applications for new mortgages, the most important series, have flattened out. I think that the worse of this may well be over.” - Alan Greenspan, October 1, 2006

Friday, August 26, 2011

The big dip in home prices - by state

Nationally, prices of homes using Fannie Mae- and Freddie Mac-acquired mortgages dropped 5.9% in the second quarter compared to the same period of 2010, the Federal Housing Finance Agency said this week. Put another way, home prices on an inflation-adjusted basis tumbled 10%. Of the major metropolitan areas, the biggest price decline was 14.1% in Atlanta-Sandy Springs-Marietta in Georgia. By contrast, prices rose 3.7% in Pittsburgh.

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