March 28, 2012
"Falling prices are not so much a reflection of market health, but rather the result of banks disposing of distressed assets by offering low prices to cash buyers," said Gary Painter, an economist with the USC Lusk Center for Real Estate. "As these distressed properties are taken off the market, that trend will end."
With rental rates increasing and the jobs picture brightening, a bottom should be expected this year, Painter said.
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