Home prices fell in the III quarter in half of large U.S. cities

12.11.2010 12:04
Real Estate Market Analysis | Home prices fell in the III quarter in half of large U.S. cities Prices for residential properties in the III quarter of 2010 decreased to half of major U.S. cities due to the increased number of cases of transmission of bank assets, which served as collateral for non-repayment. This is evidenced by a study of the National Association of Realtors.

In particular, prices of private homes fell in 76 out of 155 cities with a metropolitan area, for which the study was conducted. So, home prices in the city of Ocala (Fla.) in III quarter decreased by 20%, followed by Palm Bay, Florida and Tucson, Arizona with a 15-percent decline. The average value of residential property in the U.S. fell for the III quarter on 0,2% - to 177.9 thousand dollars.

During the reporting period, the banks took over 288.345 thousand houses, 22% higher than that recorded in the III quarter of last year.
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Content tags: Overseas property
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