Economy.com issues an in-depth and valuable report on the state of the housing market. 36% total decline in home prices!!!! Unreal. But much too real.
* House prices will stabilize by the end of this year.
* The national Case-Shiller house price index will decline by another 11% from the fourth quarter of last year for a total peak-to-trough decline of 36%.
* By the end of this unprecedented downturn, house prices will have declined by double digits peak to trough in nearly 62% of the nation’s 381 metro areas. In about 10% of metro areas, price declines will exceed 30%.