We have not seen the bottom of this foreclosure market yet. This is especially true in the winter season and an uncertain political climate. While there is a bright note that the FHA has once again waived the Anti-Flipping rule to allow people to rehab homes and sell them quickly there are other gloomy stats.
CoreLogics Home Price Index shows a 4th straight month of housing price declines for November. Prices fell 1.4% from October and are down 4.3% year over year. Most of this decline is being driven by dropping prices on distressed properties (foreclosures and short sales), but if you remove them from the equation, retail homes still fell 0.6% in November. Ye