Home Sales and Prices Looking at Further Decline, Say Some Analysts

By Alec Foege
| Posted Aug 10th 2010 1:52PM
0 Comments

home sales and prices have yet to hit bottom, say analystsHave home sales and prices finally hit bottom? Unfortunately, many analysts say no. A new report from Capital Economics released Monday says that recent home price increases will have little effect, since pending home sales dropped around 32 percent since the homebuyer tax credit expired in April. Moody's Investors Service says that the likelihood of a double-dip recession has increased slightly from spring, and if the double dip takes place, housing prices will drop another 20 percent with a recovery postponed 'til at least 2012.



More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.
Filed under: News, Economy

Poll

With spring home buying season around the corner, will you consider buying?
Yes. Affordability is at a 30-year high, and I should be able to qualify for a mortgage.3077 (20.4%)
No, but I would if I could. Lending in my area is still tight, and I don't have that kind of cash on hand for a down payment.5156 (34.1%)
No, I'm holding out for an even better deal.2856 (18.9%)
Nope. It's a renter's life for me.4013 (26.6%)
AOL RealEstate on Facebook

Compare Mortgage Rates

Mortgage Rates by Zillow