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 December 02, 2009

Key Indicators Suggest Continued Weakness in Housing Market
A recent report published by the Federal Housing Financing Agency shows that home prices were flat throughout the month of September when compared to August prices.
There are some market analysts that fear this is a sign the home prices may fall again.

John Silva, chief economist with Wells Fargo, states that there continues to be no clear or easy way of recovery for the housing market. He predicts a ten percent decline in prices.

Unemployment is predicted to remain above the nine percent mark throughout the coming year. The Federal Reserve, having made this prediction, is reluctant to raise the current overnight federal funds rate from it current level of zero. They fear doing so could cause mortgage rates to rise, just adding to the lackluster performance of the housing market.