The S&P/Case-Shiller index which charts home prices in 20 U.S. cities, shows that home prices fell by 2.4 percent in the twelve months ending in December. This is a clear indication that recovery in the housing sectors continues to lag the economy as a whole.
Ã¢â‚¬Å“The housing market continues to struggle under the weight of high unemployment, growing inventories of distressed properties and rising interest rates,Ã¢â‚¬Â Scott Buchta, a strategist at Braver Stern Securities LLC in Chicago, said before the report. Ã¢â‚¬Å“We expect to see home prices continue to fall throughout the year as banks begin to unwind their growing inventories of foreclosed homes.Ã¢â‚¬Â
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.