The pace of price declines in the US housing market has slowed, hinting at eventual stabilisation.
House prices have suffered their smallest decline in almost a year according to recent figures. Prices declined 0.1% in April signalling that the pace of the fall in prices was beginning to ease.
In 9 of the 20 biggest cities there was actually a rise in prices during the month.
US house prices have plunged by a third since they started to fall in the summer of 2006, a decline that helped trigger the global financial crisis.
The majority of economists on Wall Street do not expect prices to begin rising until 2013 as the industry grapples with the oversupply of homes created during the boom years.
Tim Corfield - Griffin & King
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10th July 2012
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