Credit Suisse Sees Continued Softness in Housing

New York, NY, April 8, 2011 -- Financial firm Credit Suisse expects house prices will continue to decline this year.

The firm's March housing data rates the climate for single family home transactions in 50 major U.S. markets.

Credit Suiss said that buyer traffic fell in March from previous months, which were already low.

The firm believes that buyers lack confidence and are continuing to anticipate that home prices will continue to decline.

Investor interest in housing is high in some of the most depressed markets while regular buyers are waiting for prices to bottom. They are often paying cash after making low-ball offers.

Credit Suisse said that traditional home buyers planning to live in a home are facing tight lending standards, as well as a significant possibility that a property appraisal will come in lower than their offer price, thereby delaying or halting a purchase.

In addition, the firm said, foreclosures are still high and increasing.