House Sales Decrease Drastically, But Still Surpass Expectations

May 26, 2009

US (ChattahBox) – According to the S&P Case-Shiller index, house prices have continued to fall through March, taking it to levels seen in 2002.

The findings aren’t particularly surprising, given the fact that prices have been steadily increasing over the last several years. But the rate at which they are dropping is a definite cause for concern.

For the current month, most metropolis areas in the US have reported an estimated 10% decrease in sales prices over the last month, a number that is even more alarming given the lack of interest in a market that is even boasting these prices.

But don’t despair, even with dropping numbers it is better then expected, with economists encouraging house sales, and claiming that the actual consumer confidence statistics are beginning to pick up once again.

The moral of the story: it may be bad, but not nearly as bad as it could be.


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