Moody’s Sees Lower House Prices Ahead

New York, NY, Nov. 23, 2010 — Moody’s Analytics predicted that housing prices will decline though the middle of next year, with some areas suffering more than others.

The worst declines will occur in markets with the largest supply of foreclosed homes like Las Vegas, Moody’s said.

Moody’s Analytics expects the number of bank-owned homes will peak early next year at 971,000, an increase of 16% over 2010.