Home Prices Neared 6-Year Low in July

More

A new report (.pdf) from the Federal Housing Finance Agency made housing bulls shudder on Wednesday. Its indicated that prices fell 0.5% in July. It also revised downward June's dip to a 1.2% drop, instead of a 0.3% decline. This brought prices down to their September 2004 level.

Here's the chart:

fhfa home prices 2010-07.png

It's pretty hard to argue that we're seeing significant stabilization here, particularly considering that sales are expected to be quite weak throughout the rest of 2010, while foreclosures will likely occur at relatively high levels. Until banks work through the large and increasing inventory of homes, prices will have trouble finding their footing.

Jump to comments
Presented by

Daniel Indiviglio was an associate editor at The Atlantic from 2009 through 2011. He is now the Washington, D.C.-based columnist for Reuters Breakingviews. He is also a 2011 Robert Novak Journalism Fellow through the Phillips Foundation. More

Indiviglio has also written for Forbes. Prior to becoming a journalist, he spent several years working as an investment banker and a consultant.
Get Today's Top Stories in Your Inbox (preview)

Tracing Sriracha's Origin to a Seaside Town in Thailand

Ever wonder how the wildly popular hot sauce got its name? It all started in Si Racha.


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Where the Wild Things Go

A government facility outside of Denver houses more than a million products of the illegal wildlife trade, from tigers and bears to bald eagles.

Video

Adults Need Playtime Too

When was the last time you played your favorite childhood game?

Video

Is Wine Healthy?

James Hamblin prepares to impress his date with knowledge about the health benefits of wine.

Video

The World's Largest Balloon Festival

Nine days, more than 700 balloons, and a whole lot of hot air

Writers

Up
Down

More in Business

Just In