Foreclosures drag on home prices

02/28/2012 | Bloomberg

Foreclosures might be crimping the housing industry's recovery as home prices in 20 U.S. cities decreased 4% from last year. It's the lowest level since the housing downturn began in mid-2006. "We’re not seeing any of the stabilization in housing activity filter through to prices,” says Sean Incremona, a senior economist at 4Cast.

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