Tuesday, March 29, 2011

Home prices falling in most major U.S. cities

This is just an initial report.  As homeowners keep losing equity and I expect more of them to walk away from their homes.
The Standard & Poor's/Case-Shiller 20-city index released Tuesday shows price declines in 19 cities from December to January. Eleven of them are at their lowest level since the housing bust, in 2006 and 2007. The index fell for the sixth straight month.
Home values in Atlanta, Las Vegas, Detroit and Cleveland are now below January 2000 levels.
The only market where prices rose was Washington, where homes prices gained 0.1 percent month over month.
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