Home prices fell for a third straight month in November in 19 of the 20 cities tracked by the Standard & Poor's/Case-Shiller home-price index. The only city to see an increase? Phoenix, Arizona.
Phoenix enjoyed a .6% increase for the month, but down -3.6% from November of 2010.
Nationwide prices have fallen 33% since the housing bust, back to 2003 levels. "The trend is down and there are few, if any, signs in the numbers that a turning point is close at hand," said David M. Blitzer, chairman of the S&P's index committee
This continued downward trend along with a sluggish economy will continue to produce short sales and foreclosures as homeowners struggle to keep paying on underwater mortgages.
We can help avoid foreclosure through a short sale, salvage your credit, and help you rebuild towards home ownership. Contact us today for a free strategy session. 480-241-9927