Statistical Indicators

Price Declines Expected

Posted on Monday, July 13, 2009

According to the WSJ, nearly 85% of the country’s housing markets are facing an increased risk of home price declines over the next two years, and prices are likely to slide in half of the largest 50 U.S. markets through the beginning of 2011, according to a report from mortgage insurer PMI Group Inc. Rising unemployment is accelerating foreclosures and home price declines in a diverse group of markets that are likely to spread the reach of housing pain beyond the hardest hit four states–California, Nevada, Florida and Arizona. Among the nation’s 50 largest housing markets, 28 are now in the highest risk category with at least a 75% of price declines.

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