Global Property Guide: US housing prices were 20% lower in the third quarter than a year earlier.
Housing prices in Israel fell by 5.3% in the third quarter of 2008, compared with the corresponding quarter of 2007, and by 3.7% compared with the preceding quarter, according to Global Property Guide. Housing prices fell, net of inflation, in 21 of the 29 countries covered in the survey.
The third quarter housing figures is bad news, even in countries were housing prices actually rose. Housing prices in the UK were 14.4% lower in the third quarter than a year earlier, and 6.7% lower than in the preceding quarter. In the US, housing prices fell 20.8% in the third quarter compared with the corresponding quarter and 4.6% compared with the preceding quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on December 24, 2008
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