Slump in Housing Prices Deepens

According to the S&P/ Case-Shiller index home prices have declined nationwide another 1.5% in the third quarter compared with a year ago. Despite the fact that the economy is improving, the large number of homes on the market together with the slowdown in the processing of foreclosures has resulted in buyers holding off on making a commitment. The end result of all this is that those sellers that are motivated to sell will reduce their price.

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