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Report: Home Prices May Be Stabilizing

House prices may be showing signs of stabilizing, according to a new report by Radar Logic, a real estate research firm. The company’s RPX Index, measured in price per square foot, shows that prices in the top 25 U.S. metro areas have flattened over the past few months, breaking a trend of rapidly declining home prices.

The report cites NAR’s recent existing-home sales as well as S&P/Case-Shiller price index as further evidence for market improvement, although the Case-Shiller report did not believe the price deceleration was evidence of a recovery.

However, the Radar Logic report cautions that it is still too soon to declare a recovery, as high levels of existing housing inventory and distressed properties could put more downward pressure on home prices in some markets.

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