Double Dip in Home Values Revealed by Spring
According to a recent Standard and Poor, and Case Schillinger home price report, the U.S. National Home Price Index declined 2.0% in the third quarter of 2010. This is after a modest increase in the second quarter of 2010. S&P/Case Schillinger is the leading measure of US home prices. They cite the end of the tax incentive and the continued Foreclosure crisis as the reason home price values continue to be weighed down. The report further says that if there is going to be a second dip in home values that it will be evident by the Spring of 2011.
Interestingly enough, The National Association of Realtors publication of the 'Profile of Home Buyers and Sellers for 2010' indicated the total number of foreclosures purchased across the country to be at just 6%, while the number of short sales purchased to be at 4%. It seems amazing that 10% of the homes sold which are considered distressed properties, are weighing down the entire housing industry and the economy as a whole.
If you are interested in viewing homes for sale in the Southern Maryland Real Estate area visit Charles County Real Estate, or call DeHanas Real Estate Services at 301-870-1717.
