LPS: Housing Inventory Value Down 30.1% From June 2006 Peak

Posted by Orb Staff on January 11, 2012 No Comments
Categories : Residential Mortgage

10685_dollarsignhouse LPS: Housing Inventory Value Down 30.1% From June 2006 Peak The total U.S. housing inventory value has dropped 30.1% from its June 2006 peak, from $10.6 trillion to $7.5 trillion, according to the latest home price index (HPI) data released by Lender Processing Services (LPS), based in Jacksonville, Fla.

The latest LPS HPI found four metropolitan statistical areas have average home prices below the levels recorded at the end of January 2000: Detroit (-42.4%), Atlanta (-30.2%), Cleveland (-9.2%) and Phoenix (-7.8%).

The LPS HPI national average home price for transactions during October 2011 was $200,000, a 0.8% decline from September and a 2.7% decline from the beginning of 2011. October's national average home price reached a price level not seen since October 2002.

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