Tuesday, April 24, 2012

Home Prices Fell 0.8% in February

Existing home sales fell 0.8% according to S&P’s Case-Shiller index’s 10- and 20-city index. Despite the declining home prices, change from a year ago improved in February. The 10-city index has now fallen 3.6% in the past year, better than the 4.1% reported in January. The 20-city index has improved as well, falling 3.5% from a year ago, down from 3.9% reported in January.

Five metropolitan areas have now seen prices appreciate from one year ago – Denver, Detroit, Miami, Minneapolis, Phoenix. Price declines in other cities range from a 1% drop in Dallas to a 17.3% drop in Atlanta.

On a month to month basis, only Phoenix, San Diego and Miami saw prices rise in February.

Read the report.

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