January 28, 2011 - Home prices are falling around the country, providing those packing their moving boxes with a prime homebuying opportunity.

According to the latest Case-Shiller report from Standard & Poor's, home prices in the nation's 20 largest metropolitan areas declined 1 percent from October to November and 1.6 percent from a year earlier. Home prices in all but one of those MSAs declined on a monthly basis, while 16 out of 20 regions reported lower prices on a year-over-year basis.

While declining home prices may frustrate homeowners, they have perpetuated an era of affordable homebuying for those hiring moving companies. The largest bargains can be found in Detroit and Atlanta, which saw home values decline by 2.7 and 2.5 percent, respectively, from October to November. Those moving to Chicago also encountered home prices that were 2.2 percent lower than they were a month earlier.

Low prices are one of the biggest reasons consumers are making long distance moving plans. A recent survey from Weichert Realtors found that 28 percent of buyers who purchase a new home during the final six months of 2010 did so because of affordable financing.
 

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