Slide in home prices accelerates
That's the finding of The Wall Street Journal's quarterly survey on home prices.
Home prices declined year over year in the fourth quarter in all 28 major metro markets tracked by the survey. In all but three, the price declines accelerated over the third quarter.
On top of all that, the amount of unsold inventory just keeps piling up as well. And that's even with the temporary slowdown in foreclosures in the wake of the robo-signing controversy.
Ouch!
Amid all this turmoil, home prices in inner suburbs are holding up better than in more far-flung burbs, Jeffrey Otteau, president of Otteau Valuation Group, notes in the article.
I would say that's on the mark for Greater Boston, especially as you move inside 128.
Well, that's all for today. I am sick with a nasty little flu bug and just managed to crawl out of bed. Now I am going to go crawl back in.
Stay well!
