U.S. Home Value Losses Stabilize in 2009

The good news is that everything is stabilizing. The bad news is that this also heralds the beginning of the end for bargain hunters looking for the bargain basement prices on homes because the prices are starting to trend upwards... Excerpted from an article in Custom Builder (read the full article here: http://www.housingzone.com/custombuilder/article/ca6710998.html?nid=2822&rid=12237451)

"Home values stabilized significantly during the second half of 2009, with the total dollar value of U.S. homes increasing since June," said Dr. Stan Humphries, Zillow's chief economist. "Most housing markets across the country had a good summer, spurred largely by the government's tax credits for homebuyers combined with very low mortgage rates. Unfortunately, we believe that demand will come under downward pressure as mortgage rates creep back up after the first quarter and that housing supply will experience upward pressure as the volume of foreclosures continues to remain high. Both these factors will challenge the recent stabilization of home prices."

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