INDIANAPOLIS-The addition of about 12 million more assets to the market indicates that the US home prices would continue to decrease for another three years. According to analytical firms, the supply of properties in foreclosure or default called "shadow inventory" is averting the home prices to reach the bottom since 2006.
The pre-owned and new home sales reached the record-low levels in July due the expiration of federal tax credit and the US jobless rate reached a 26-year peak. For the full story, go to Indy Star.
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