The non-seasonally adjusted Composite-10 price index declined 0.78 percent since January while the Composite-20 index declined 0.76 percent over the same period resulting in the lowest level seen to on the Composite-10 since April 2003 and the largest peak decline seen since the nearly six year old housing bust began in 2006.
Tiny Tamaula is the new face of rural Mexico: Villagers are home again as the illegal immigration boom drops to net zero
Home prices in some cities show some signs of stabilizing. But in Atlanta, the decline in home prices is accelerating.
The home price price index declined 0.83 percent since December while the Composite-20 index declined 0.84 percent over the same period resulting in the lowest level seen to on the Composite-10 since June 2003 and the largest peak decline seen since the nearly six year old housing bust began in 2006.
Foreclosures are tough: Homeowners lose their houses and ruin their credit, while banks get stuck with vacant, deteriorating real estate for months before selling it at a considerable loss. Increasingly, banks are finding another way: the short sale. Instead of waiting to foreclose, a bank preemptively sells a home at a deep discount and closes out the underwater mortgage, even if the house sells for less than the value of the mortgage. The result: Homeowners shed their mortgage debt, and banks unload properties more quickly and inexpensively. Here are the Top 10 metropolitan areas with the biggest average discounts on these pre-foreclosure homes, according to online foreclosure marketplace RealtyTrac. Can you guess which city is No. 1?