In addition, some housing analysts are predicting another 15% to 20% drop in prices. This is a report from RadarLogic, the Case-Shiller which looks at the 3 month moving average and 20 metro areas shows little less of a drop.
Twenty-five metro areas saw home prices plummet to the lowest levels since the 2007 housing crash, RadarLogic said in its latest RPX Composite Index.
Read it allRadarLogic said an oversupply of homes, high rates of mortgage defaults, tighter lending standards and a housing market riddled with foreclosures weighed down January prices. The index, which tracks home prices across 25 major markets, declined 3.8% between December and January and 3.4% year-over-year.