Tuesday 5 June 2012

More home price declines in US


US: Jobs Report Signals More Trouble for Housing



"These are the areas with the biggest home price declines during the housing crash and which now have the highest vacancy rates.

“Job growth in clobbered metros was just 0.7 percent through April, slower than the national average of 1.5 percent for the same period,” Kolko adds, citing data from a report earlier this week.

The construction sector lost 28,000 jobs, down 3.3 percent from three months ago. This may point to lower housing starts over the summer, despite gains this spring."

CNBC article

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