Industry News

Reports: Home prices to keep falling

Real estate brief
Published on Oct 23, 2008

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by CareyBot

National home prices fell 11.3 percent from a year ago in August, and recently reported layoffs are likely to push foreclosure-related filings past the 3.2 million mark this year, First American CoreLogic said in releasing its latest home-price index.

Year-over-year nominal home-price declines -- changes over a 12-month period, unadjusted for inflation -- have held steady at around 11 percent for three consecutive months, said Mark Fleming, chief economist for First American CoreLogic.

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