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Tuesday, November 29, 2011

3Q home prices remain weak: S&P Case Shiller

We are about to break 2002 prices, in what a lot of experts are calling the "Lost Decade".

The third quarter brought another dose of persistently disappointing home prices, with the U.S. national home price index up only 0.1% from the second quarter and down 3.9% from year-ago figures, the S&P Case-Shiller report said Tuesday.
The national index decline is not as steep as the 5.8% decline posted in the second quarter, but home prices overall are back to first quarter of 2003 levels.
The report found that the annual rate of change in 14 of the 20 metropolitan statistical areas covered by the report improved in September when compared to August.
And some analysis.
The relative lack of closed transactions might be exacerbating the downside, the report said.
Read it all

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