Home Prices Fall Further
"There is very little, if any, good news about housing. Prices continue to weaken, trends in sales and construction are disappointing," David M. Blitzer, chairman of the S&P/Case-Shiller Home Price Index Committee says in the latest report from the widely watched S&P/Case-Shiller Home Price Indices.
According to S&P/Case-Shiller's data for February, "prices for the 10-and 20-city composites are lower than a year ago but still slightly above their April 2009 bottom. ... Washington D.C. was the only market to post a year-over-year gain with an annual growth rate of +2.7 percent. Ten of the 11 cities that made new lows in January 2011 saw new lows again in February 2011."
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