Home prices across the United States continue to slide in the quarterly context, but industry data released Thursday indicates that when you widen the scope, year-over-year numbers are still showing a healthy bounce-back from the depressed levels recorded in 2009.
Add to that the fact that REOs are coming to market at a much slower pace, and analysts at the real estate valuation firm Clear Capital say it just might mean the rapid deterioration in the housing market will have a shorter lifespan than originally feared.
Clear Capital reported that nationally, home prices slipped 5.0 percent in April when compared to three months earlier. The decline represents a further 1.1 percentage point reduction from the quarterly decline reported last month.