Wednesday 1 February 2012

US Home Prices Drop Amid Weak Demand

BBC: US home prices dropped more than expected in November, continuing the market's slide in an index of 20 metropolitan areas.

Prices for single-family homes declined 0.7%, instead of the 0.5% forecasted by economists.

Home prices are on average at similar levels to 2003, amid a large supply of houses with weak demand.

Consumer confidence also slipped in January, after two straight months of gains in confidence in the US economy. » | Tuesday, January 31, 2012