Winans International Announces 2010 Housing Data Mixed but Showing Promise

NOVATO, Calif., Jan. 28, 2011 /PRNewswire/ -- Some progress has been made toward leaving behind the worst residential real estate bear market in 68 years. As of December 31st, the Winans International Real Estate Index (WIREI) posted a 3% gain from a year ago. The Midwest and South led the way in price appreciation.

Unfortunately, the table above shows just how fragile the housing market is in light of record low mortgage rates. The sales and listings have declined for a 3rd consecutive year keeping inventory levels stubbornly high. Bottom-line: Housing's healing process still has a long way to go.

"Even with low mortgage rates, a nationwide recovery in housing will probably not happen in 2011. Past real estate bear markets ended when new housing inventory was below 5 months, and the median length of time to sell a new house declined to 4 months. It could easily take another year to dry up excess inventory and for mortgage credit to ease," says Ken Winans, the President of Winans International and author of the award-winning book "Investment Atlas."

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.

More information on the Winans International Real Estate Index can be found at www.winansintl.com. WIREI charts and data can be purchased from www.globalfinancialdata.com and www.srcstockcharts.com

SOURCE Winans International

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED