S&P Predicts Housing Prices Will Fall Further — New York Real Estate

S&P Predicts Housing Prices Will Fall Further

by John Tayeb on February 2, 2010

The oversupply of homes on the market in many regions is likely to reduce home prices still further, rating agency Standard & Poor’s said in a statement Friday.

“While home prices have been trending up since spring 2009, existing, new and pending home sales are waning, which suggests that lower prices are on the horizon,” said S&P in the statement.

The S&P predicted that declining prices will increase the inventory of distressed U.S. housing further and prevent the market from stabilizing.


Source: Reuters News (01/29/2010)

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