The real estate valuation firm Clear Capital sees signs of market stability as we move into the summer months.
New data released Thursday by the company shows that U.S. home prices continue to fall, but the 2.3 percent drop recorded for the three months ending in May was half the decline seen in the previous month’s report.
Clear Capital says the median price paid for distressed properties has started to rise, indicating the REO market is seeing increased activity toward the upper end of the price range and helping to rein in the depreciating trend of the past several months.
The “uptick in distressed sale prices, combined with the upcoming summer buying season, could stabilize home prices,” according to the Clear Capital report.
