Puerto Rico’s reforms may turn around its property market
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Puerto Rico’s house prices fell by 1.3% (2.66% in real terms) y-o-y in the second quarter of 2012, according to the Federal Housing Finance Agency (FHFA), a decline noticeably lower than during each of the previous three quarters, which saw average price falls of 5.9% y-o-y (8.7% in real terms).
Zillow recorded a median house prices fall of 0.8% during the year to September 2012 (median house prices fell to US$ 198,500, from US$ 200,000 the previous year).
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