In February, the unadjusted S&P/Case-Shiller 20-city home price composite index declined 0.8% over the previous month. The drop followed the revised 1.0% price fall registered in January (previously reported: -0.8% month-on-month) and marks, in fact, the sixth consecutive month of declining home prices. Nevertheless, the price drop was in line with market expectations. On an annual basis, home prices are 3.5% below the same month last year, an improvement over the 3.9% annual fall recorded in January. 16 of the 20 cities surveyed posted declines over the previous month and, according to S&P, the monthly data confirm that
United States Housing
Home prices continue to hit new lows
April 24, 2012
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Note: S&P/Case-Shiller Composite-20 home price value index and month-on-month non-seasonally adjusted variation.
Source: Standard & Poor
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