The long-predicted double-dip in housing has begun, with cities across the country falling to their lowest point in many years, data released Tuesday showed.
Prices in 20 major metropolitan areas fell 1 percent in November from October, according to the Standard & Poor’s Case-Shiller Home Price Index. The index is only 3.3 percent above the low it reached in April 2009 and has fallen fell 1.6 percent from a year ago.
“A double-dip could be confirmed before spring,” the chairman of S.&P.’s index committee, David M. Blitzer, said.
Eight of the 20 cities in the index fell to new lows for this cycle, including Atlanta; Charlotte, N.C.; Portland, Ore.; Miami, Seattle; and Tampa, Fla. Only a handful of places — essentially California and Washington — saw prices rise.
Prices in Atlanta and Chicago fell more than 7 percent, exceeding even the drops in the perennially troubled Detroit and Las Vegas.
Have questions? Email us
View Network Funding LP Privacy Policy and Licensing
GRMA # 24343 GA NMLS # 24343 Network Funding NMLS # 2297
Site Map
About NFLP | FHA Mortgages | Jumbo Mortgages | First Time Home Buyers | Apply Now | FHA/HUD Foreclosure Finance | Active Homes For Sale | No Equity Refinancing | USDA 100% Loans | HomePath Financing | Credit Score Help | List Your Home-Flat Fee | Harp Refinance 2.0 | Tell a Friend | Real Estate Glossary | Home | The Loan Process | Should you buy points? | Rate Lock Periods | Refinancing Options | Mortgage Calculators | Disputing Credit Reports | VA Loans | How Much You Can Afford | Typical Closing Cost | Daily Rate Lock Advisory | Blog - Home Finance Answers
Copyright © 2012 Network Funding, LP Mortgage lender Portions Copyright © 2012 a la mode, inc.Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map