Risk of house-price declines falling in many areas 
Drop in PMI risk index does not indicate market has hit bottom
By Matt Carter, Tuesday, October 9, 2007.Declining home prices boosted affordability during the second quarter, reducing the risk of price declines in 28 of the 50 largest metropolitan areas, according to an analysis by PMI Mortgage Insurance Co.
PMI said its U.S. Market Risk Index -- which takes into account economic factors like home-price appreciation and volatility, affordability and employment -- fell for the first time in 2 1/2 years during the second quarter.
While that's an encouraging sign that housing markets are beginning to correct, it's not evidence that they've hit bottom.
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