U.S. prices decline
A U.S. real estate research firm has found that prices have declined in 19 of 26 centres surveyed earlier this month. Asking prices fell at the fastest rate in Phoenix, Ariz. — a decline of 3.5 per cent during August and 4.5 per cent in the most recent three-month period. They rose the fastest in San Jose and San Diego, Calif. — 1.7 and 1.3 per cent respectively. Housing inventory also declined in 22 of 26 markets surveyed.