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Decline in Decline of Housing Market

Posted by: Tim Halbur

1 July 2009 - 11:00am

Yale economist Robert Schiller believes that the housing market is showing signs of improvement. "At this point, people are thinking the fall is over," says Schiller.

"Home prices in 20 major U.S. metropolitan areas fell in April at a slower pace than forecast, the S&P/Case-Shiller home- price index showed today. Today’s Case-Shiller numbers are the latest sign that that the worst of the housing slump may be passing. Sales of existing homes posted gains in April and May, while housing starts jumped in May from a record low."

Schiller predicts that housing prices may improve by as much as 6% before the year is up.

Full Story: Shiller Sees ‘Improvement’ in Rate of Home-Price Drop
Source: Bloomberg.com, June 30, 2009
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