U.S. Property Set to End Year Down

January 13, 2012 / Russell Legato, Residential Property Analyst

U.S. property prices decreased by 1.4 percent in November. They decreased month by month in August, September and October. All residential sales dropped by 4.3 percent when compared to November of 2010. There was a decline of 3.7 percent in October of 2011 compared to the same month in 2010. Short sales and real estate owned transactions are included in those percentages.

U.S. Property Set to End Year Down

Prices continue to fall as distressed sales nudged them lower. An industry expert said that this factor is preventing a housing recovery. Five states saw higher price gains with Vermont in the lead at 4.3 percent. This includes distressed sales.

Nevada saw a radical decrease in prices, 11.2 percent. The states with the highest percentage of decreased rates were all over the country, from the West, the Midwest and the South. Those figures included distressed sales.

When distressed sales were excluded, Maine and South Carolina tied for highest percentage increases of 4.9 percent. The lowest percentage when distressed sales were left out was Nevada at a decrease of 8.8 percent.

The top 100 statistics figured on U.S. properties are measured according to population. In November year on year decreases are indicated. That is three less than are shown for October.

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