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New England Home Values Fall In Q4

Mar 1, 2011 | Reprints | Print

money_for_mortgage Home values in New England fell by 1.8 percent in the fourth quarter of 2010, compared to the same time in 2009, according to a recent report from Freddie Mac.

The value of New England homes also fell by 2.3 percent compared to the previous quarter, according to the report. During the last five years, these homes’ values have declined 11.7 percent.

Nationally, home values fell 4.3 percent in the fourth quarter 2010 compared to the same time in 2009, and 2.6 percent from the previous quarter.

"Low mortgage rates and home prices have combined to push homebuyer affordability to levels not seen in decades in most places," said Frank Nothaft, Freddie Mac chief economist. "This high affordability will likely translate into an increase in 2011 home sales relative to last year."

Residential Real Estate