From a record high $ 296,000 in March 2007, Winans International Real Estate Index (WIREI) has declined 22% to $ 228,500. In fact, bear market real estate 4 1/2-year is the worst decline in home prices since prices 33% decline from 1939 to 1945.
“Since the WIREI post results one month earlier than other real estate index, it is a leading indicator of poor health continues to show the housing market. Unfortunately, the tight credit conditions and a high level of inventories continue to keep the pressure on house price appreciation. The next bull market housing may be a few more years, “said Ken Winans, and President of the Winans International (www.winansintl.com) and market researcher.
Winans International has also developed international housing index called Winans-Taylor International Real Estate Index (symbol: WTIREI), by collecting 37 years new homes data from 36 countries and develop an effective approach combines these new global studies House prices into a single dataset.