| Many pundits are predicting that American house prices will reach bottom in 2012 after sliding by more than a third in the past five years. Then again, says Andrew Jeffery on Minyanville.com, “in 2009, 2010 was supposed to be the bottom. Then it was 2011.” So how realistic is the prognosis this time?
Prices are still falling, but they lag changes in supply and demand by a few months, and in this respect the picture is improving. Sales of new houses are up 10% year-on-year, and sales of existing ones, comprising 94% of the market, are at a ten-month high...............................................Full Article: Source |