The latest real-time housing data from Altos Research and Clear Capital shows continued deterioration in the U.S. housing market. Clear Capital says prices declined 4.1% in 2010 and are likely to continue declining at a more moderate pace of 3.6% in 2011 (click to enlarge):
Altos Research showed a 1.63% decline in prices in December:
- The Altos 10-City Composite is now at $448,996, off 1.63% from last November 2010.
- All 27 of the major markets tracked by the report showed seasonal price decreases. Most were relatively minor, with the steepest declines seen in San Francisco (down 4.77%), San Diego (down 3.71%), and Minneapolis (down 3.16%), respectively.
- Housing inventory is off by 5.89% nationwide, with dramatic decreases in several major markets, including Boston, San Francisco, and Seattle.
- The declines shown reflect expected seasonal downturns.