US house prices at 6-year low

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof whatsapp Tags: NULL US HOUSE prices fell 0.5 per cent in July to their lowest level in six years, official figures showed yesterday, heaping further woes on homeowners as the end of government-backed tax credits aimed at first time buyers began to bite. The US government had offered first time buyers a tax credit of $8,000 (£5,106) to try to stabilise the housing market but the scheme ended on 30 April. House prices have also been hit by increased availability of foreclosed homes and a near 10 per cent unemployment rate.The Federal Housing Finance Agency’s (FHFA) monthly house price index also revised down the fall in house prices for June from 0.3 per cent to 1.2 per cent. It said the unusually large revision reflected the addition of new data from late June that showed considerably weaker prices than earlier in the month. US house prices have now fallen 3.3 per cent since July last year and 13.8 per cent since their peak in April 2007. The figures came just a day after US Commerce Department figures showed house building in the US increased by 10.5 per cent in August – the largest increase since November – to a seasonally-adjusted annual rate of 598,000 units. Analysts had expected the figure to be 550,000 units.The FHFA monthly index is calculated using purchase prices of houses bought with mortgages that have been sold or guaranteed by Fannie Mae or Freddie Mac, the two largest mortgage lenders in the US. whatsapp Sharecenter_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com KCS-content US house prices at 6-year low Wednesday 22 September 2010 7:52 pmlast_img