American housing markets suffer price declines

According to the economic and financial analyst, 262 of 330 housing markets experienced declines during the first three months of the year. The average single family home price fell by an annualised rate of 6.7 per cent over the quarter.

Fewer highly-priced home sales, an abundance of foreclosed properties being sold at discount and tighter credit standards were all attributed to the fall in prices.

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Written by Staff Reporter

Last Updated: 09 March 2022

Published: 03 June 2008