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Down goes the housing index

I'll have a story tomorrow on OFHEO's new house price index numbers, which show the first quarter-over-quarter drop in nine years for the Baltimore metro area and the first in 13 years for the nation as a whole.

In both cases, the third-quarter drops are small -- less than half a percent -- though economists note that the index doesn't capture the part of the mortgage market feeling the credit crunch most: jumbo loans for pricey homes and subprime loans aimed at folks with imperfect credit.

Posted by Jamie Smith Hopkins on November 29, 2007 8:12 PM |
                    

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About the blogger
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
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