NOVATO, Calif., March 25, 2011 /PRNewswire/ -- From U.S. housing's 110-year peak set in 2007, the Winans International Real Estate Index (WIREI)™ has declined 24% to a new low of $224,050. This eclipses last October's low of $229,300.
"This marks the worst price decline in U.S. new home prices since the 33% decline from December 1939 to December 1945. Clearly, residential real estate prices nationwide continue to be weak, and I doubt there will be sustained U.S. economic recovery without a rebound in housing values," said Ken Winans, President of Winans International Investment Management & Research.
The Winans International Real Estate Index (WIREI)™ is the only index that measures U.S. home prices from 1830 to present and posts new housing data without a 2-month lag found with other popular real estate indexes.
SOURCE Winans International Real Estate Index