US Home Prices Fell For Sixth Consecutive Month In August

Daily Forex Fundamentals | Written by DailyFX | Oct 23 08 14:34 GMT |

US home prices fell for the sixth consecutive month in August as the FHFA's index slipped 0.6 percent. However, outside of a jump in the index in February, prices have actually slumped continuously since May 2007. Indeed, the collapse of the housing sector is far from over as tighter credit conditions limit the availability of mortgages, which is hurting already-weak demand for homes. Thus, the deterioration in housing is likely to continue weighing on economic growth going forward and should contribute to recession risks. DailyFX Disclaimer Investment in the currency exchange is highly speculative and should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only. Accordingly we make no warranties or guarantees in respect of the content. The publications herein do not take into account the investment objectives, financial situation or particular needs of any particular person. Investors should obtain individual financial advice based on their own particular circumstances before making an investment decision on the basis of the recommendations in this website. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. All intellectual property rights are the property of Daily FX. Daily FX and its affiliates, will not be held responsible for the reliability or accuracy of the information available on this site. The content herein is provided in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Daily FX or its affiliates. The reader agrees not to hold Daily FX or any of its affiliates liable for decisions that are based on information from this website. Daily FX highly recommends that before making a decision, the reader collects several opinions related to the decision and verifies facts from at least several independent sources.