Radar Logic Reports Stability In Home Prices During March

rices increased in March on a month-over-month basis in 11 of the nation's top 25 metropolitan statistical areas (MSAs), according to the March 2009 RPX Monthly Housing Market Report issued by Radar Logic Inc., New York. Furthermore, the report found that in six more MSAs, prices decreased less in March than they did in February. The report also found that during March, motivated sales (i.e., sales of foreclosed homes by financial institutions and foreclosure service firms) increased in 23 MSAs on a year-over-year basis, and in 21 MSAs in a month-over-month basis. ‘While not a bottom, the stability in home prices we are seeing is certainly good news,’ said Michael Feder, president and CEO of Radar Logic. However, the report found that the troubled California market is still experiencing tumult: After making a strong showing in February, prices decreased on a month-over-month basis in four of the five California MSAs tracked by Radar Logic. ‘The decline in prices in California may reflect a return of supply of foreclosed homes and seller capitulation to new pricing levels. It will be important to watch these trends through the rest of the summer,’ adds Feder. The full report is available online at www.radarlogic.com/research/RPXMonthlyHousingMarketReportforMarch2009.pdf. SOURCE: Radar Logi


Please enter your comment!
Please enter your name here