The Standard & Poor’s/Case-Shiller National Home Price index released data for the first quarter of 2009 this week showing that overall home prices in the U.S. fell by an average of 19.1%, the largest drop in a single quarter in the 21-year history of the index itself.
Singapore’s official private home price index slid 5.7% in Q4 2008 over the preceding quarter. For full-year 2008, the index fell 4.3%, reversing a 31.2% increase during 2007. This is the Singapore real estate market’s worst performance since Q4 1998 and property consultants are predicting a further decline of 10-20% in 2009, with luxury homes continuing to be the worst hit, as in 2008, this sector having seen the biggest increases over 2006/7..
More on Singapore Property Prices see Worst Decline in Ten Years
For the 25th consecutive month in a row, US house prices saw a drop in August. 10 Major US markets have now seen a record 17.7 percent average fall in the last year, with some markets falling more than 30 percent for the year. Phoenix, Las Vegas, Miami and Los Angeles topped the list of losers, and no city on the S&P/Case Shiller Home Price 20-city Index saw a price increase over the last year.
All right people, if you are spending Euros and pounds, it is probably time to buy a property in the U.S.A. Especially of you are considering Las Vegas, Miami or Phoenix. This press release pretty much says it all:
