Monday, May 9, 2011

First Quarter Home Prices Tumble

From The Wall Street Journal article, "Home Market Takes a Tumble: Turnaround More Distant After 3% Drop, Steepest Quarterly Decline Since 2008" by Nick Timiraos and Dawn Wotapka:
Home values posted the largest decline in the first quarter since late 2008, prompting many economists to push back their estimates of when the housing market will hit a bottom.

Home values fell 3% in the first quarter from the previous quarter and 1.1% in March from the previous month,

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