Home Prices Decline For 8th Month Straight; Close to Testing 2009 Lows

S&P’s new home price report confirms that home prices continue to decline, now that the effects of tax credits and failed mortgage assistance programs have faded:

Data through February 2011, released today by S&P Indices for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show prices for the 10-and 20-city composites are lower than a year ago but still slightly above their April 2009 bottom. The 10-City Composite fell 2.6% and the 20-City Composite was down 3.3% from February 2010 levels.

sp-april-2011


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