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Home Prices to Reach the Lowest Point in 2009

In many areas of the US, the house prices are falling down continuously and soon they will bottom out in the fourth quarter of this year. This is what the report issued by Moody's Economy.com says.



In some housing market, however, prices won't reach the lowest until 2010 or 2011, the report written by the chief economist of the firm adds.



According to the Fiserv Case-Shiller Index, the national average for home prices will reach the bottom at a level 36 percent below the highest point reached in the first quarter of 2006. Some areas, such as the Naples-Marco Island, Fla may bottom out with prices 70 percent below the peak.


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