Real estate prices seen leveling
Nationally, housing prices have been in free fall for two years. According to the Altos 10-city Composite Price Index, there are some fragile signs of stability. Though the hardest hit markets, Las Vegas in particular, has not seen any slowing in the housing bust.
The Altos 10-City Composite Price Index increased by 1.1 percent during both March and the first quarter of 2009. Prices of properties listed for-sale increased in 18 of 26 major markets and were down in eight markets according to the Real-Time Housing Market Report, jointly published by Altos Research and market analysis consultancy Real IQ.
Asking prices fell at the fastest rate during March in Salt Lake City followed closely by Las Vegas – down 4.0% and 3.9% respectively. Listing prices of single-family homes rose at the fastest rate in San Francisco-up 3.8% in March. Prices in seven markets-New York, Boston, Houston, Los Angeles, San Diego, Miami and Charlotte-are now showing three months of sequential listing price increases.
Source: Real Trends