Tuesday, January 30, 2007

Major home markets' slump continues - US

Boston and Detroit led the way down, according to latest figures from Case Shiller Weiss. Seattle bucks the trend.
By Les Christie, CNNMoney.com staff writer
January 30 2007: 12:04 PM EST

"NEW YORK (CNNMoney.com) -- Housing prices fell in nearly every major U.S. market in November, though some Northwest markets are bucking the trend, according to the latest numbers from Case Shiller Weiss."

"Some of the smart money is betting that the decline will continue. Case Shiller real estate derivatives are down an average of about 3.9 percent for its 12-month future contracts, which expire in October of 2007."

"Boston prices have swooned by 5 percent for the 12 months through November and Detroit was off 4.5 percent. Of 20 major cities tracked, all but three showed declines in November and seven recorded 12-month losses."Full Article.

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