As of November 30, the Winans International Real Estate Index (WIREI)™ posted a decline of 8.8% through 2011 and confirms that housing is still in a severe bear market.
From an all-time record high of $296,000 set in March of 2007, the Winans International Real Estate Index (WIREI) declined 22% to $228,500. In fact, this 4 1/2-year real estate bear market is the worst price drop in new home prices since the 33% decline from 1939 to 1945.
“Since the WIREI posts results a month earlier than other real estate indexes, it is a leading indicator in showing the continued poor health of the housing market. Unfortunately, tight credit conditions and high inventory levels continue to keep pressure on home price appreciation. The next housing bull market is probably several years away.”
The Winans International Real Estate Index (symbol: 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.
Winans International also developed an international housing index, called Winans-Taylor International Real Estate Index (symbol: WTIREI), by gathering 37 years of new home data from 36 countries and developing an approach to effectively combine these global studies of new home prices into single dataset.
