Home Value Depreciation is Slowing
Friday, May 30th, 2008Nation wide it seems like the drop in home values is slowing. According to a recent Standards and Poors report on home values, 18 of the 20 index cities lost less value over th last quarter than in previous quarters.
In looking at the chart the most critical piece of information I see is data out of Cleveland and Chicago. Both large mid western centers show a significant slowing in depreciation compared with previous quarters and in aggregate if you look at those as leading indicators for the region our decline may be slowing as well. We have reported before on Cincinnati real estate price trends and this is another report that makes us confident that the overall depreciation will most likely end with the calendar year especially if the summer sales season sees absorption of some of the foreclosed properties currently on the market.




