US Home Prices Decline by Record Margin Since 2009 Financial Crisis: Report
Home prices across the United States fell by a large margin in the month of August, while inventory levels stalled, according to a recent report by mortgage analytics firm Black Knight.
Median home prices declined by 0.98 percent in August, after falling by 1.05 percent in July, according to a press release on Oct. 3. July and August have registered the largest one-month price declines since January 2009, when the country was struggling with the financial crisis. They also rank among the eight largest declines on record. Ben Graboske, president of Black Knight, pointed out that with the two consecutive months of declines, the median home price is now 2 percent off from its peak hit in June….