Home Prices Continue Decline
According to the Standard & Poor's/Case Shiller home price index released on Tuesday, prices of existing US single-family homes extended their slump in February, with 17 of the 20 measured regions posting record annual declines.
The composite month-over-month index of 20 metropolitan areas fell 2.6 percent to 175.94 in February from January, for an annual drop of 12.7 percent.
The S&P composite month-over-month index of 10 metro areas slid 2.8 percent in February to 190.58, for an record annual decline of 13.6 percent.
In its release, S&P said that eight of the top 20 metro areas, as well as both composite measures had their biggest monthly declines in February.
"There is no sign of a bottom in the numbers," David Blitzer, chairman of the index committee at S&P, said in a press release.
Published on April 29, 2008
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