Industry NewsMarkets & Economy

Report: Signs of real estate stability

Index shows roughly flat value trend for much of '09

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A report by Radar Logic finds signs of stabilization in home values, though cautions that some markets may see a continuing slide based on a buildup of foreclosure-related inventory and a typical seasonal slowdown in sales activity. According to the company's RPX Index, which measures trends in the price per square foot of homes in 25 U.S. metro areas, the freefall in house prices that was evident in 2008 has held roughly flat for the past several months -- but the slowdown in the prices may represent just a step toward recovery. The company reported a month-over-month price hike in nine U.S. metro areas in February, compared to monthly price increases in six MSAs in February 2008. Radar Logic cited sales data from the National Association of Realtors trade group and from another monthly price index, the Standard and Poor's/Case-Shiller price index for 20 U.S. metro areas, as evidence for market improvements -- while noting that the operators of the Case-Shiller index do ...