Home prices fall, but give reason for optimism

Home price trends may soon be turning around.While home prices nationwide have continued to fall, a report from Clear Capital says that there are also signs of a turnaround in the real estate market.According to the report, national home prices slid 1.3 percent over the last three months. However, the same measure two months previously showed declines of 3.9 percent, meaning the price declines have slowed.”Despite distressed inventory pressure and traditional winter inactivity, current trends are continuing to show a softening of price declines,” said Dr. Alex Villacorta, director of research and analytics at Clear Capital. He added that current trends were “suggesting a leveling of prices is on track for spring.”Much of the declines were caused by a 4.5 percent price drop in the West region – where states like Arizona and Nevada have struggled. Prices in the South region – which contains Texas – were level, while the Northeast actually saw rising home values.Home prices in Houston have continued to grow, counter to national trends. The Houston Association of Realtors says the prices on Houston homes have set a number of monthly records recently.

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