Tuesday, March 27, 2012

Home Prices Continue to Fall in January

S&P’s Case-Shiller index continued to decline in January with the 10- and 20-city indices falling 0.8%. The declines seen in January are slower than December declines of 1.2% and 1.1% for the 10- and 20-city indices respectively. Year-ago price changes improved from December, with the 10-city index reporting a 3.9% drop, up from a 4.1% drop reported last month. The 20-city index has declined 3.8% over the last year, up from the 4.1% reported in December.

In January, only three of the 19 reporting metro areas saw appreciation in prices. Charlotte was not included in January’s survey due to delays in data reporting. Washington, Phoenix and Miami were the only areas to see appreciation in prices. San Francisco fared the worst, with home prices falling 2.5% over the month.

Read the report.

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