Core Logic: Home Prices Crumbling

Core Logic released their December home price index this morning, showing prices fell 1.4% month over month, fell 4.7% year over year, and the index is now down 33.7% from the peak.

Anyone who has called a housing bottom since February of 2006 has now been wrong for 6 straight years running.  Interest rates hit a new all time record low this week at 3.87%. 

When rates begin to move off these rock bottom levels and the shadow inventory begins to enter the market, we will experience the final flush downward in prices.

h/t Calculated Risk