Housing price declines in the forecast

According to the latest forecast by Moody's Economy.com, the nation's home price picture is going to be rather smudgy in the coming years. The study it conducted analyzed the high and low ends of real estate values in the target markets, a total of 379 of the largest ones. Only the median prices in the single-family category were used.

The survey came up with an above 10% drop in 86 of the cities, which is bad enough, and a slide between 1 and 10% in 290 other markets. That's just about all of the areas the study covered. When they averaged out the decline, it came to 7.7%, a worrisome uptick from 6.6% they just published in June. To read the entire article, please click here.