US house prices declined 0.6% on a seasonally adjusted basis from December to January, according to the Federal Housing Finance Agency (FHFA) monthly house price index. The results come with a warning that the much-feared double-dip in housing prices may be already here.
January’s drop comes after a 2% decline in December, adjusted from an originally projected 1.6%.
Allow me to say that I’m going to be a little disappointed if the “next shoe to drop” is the same as the last shoe to drop.
