Tuesday, March 27, 2012

Home Prices Hit New Low, Index Drops to 2003


Home Price Indices, the leading measure of U.S. home prices, showed annual declines of 3.9% and 3.8% for the 10- and 20-City Composites, respectively.

Both composites saw price declines of 0.8% in the month of January. Sixteen of 19 MSAs also saw home prices decrease over the month; only Miami, Phoenix and Washington DC home prices went up versus December 2011.

All American Investor


Eight MSAs and both Composites posted new index lows in January. The 10- and 20-City Composites recorded marginal improvements in annual returns over December 2011 when they each posted -4.1%.

In addition to the Composites, Dallas, Denver, Miami, Minneapolis, New York, Phoenix, San Diego, Seattle, Tampa and Washington DC saw their annual rates improve compared to December; while nine of the MSAs saw their annual returns worsen compared to what was reported for December 2011. Denver, Detroit and Phoenix were the only cities to post positive annual growth rates of +0.2%, +1.7% and +1.3%, respectively. Atlanta again posted the lowest annual (and only double-digit negative) return at -14.8%.

Read the full blown report here -- 2012 Home Prices Off to a Rocky Start According to the S&P/Case-Shiller Home Price Indices

Data through January 2012, released today by S&P Indices for its S&P/Case-Shiller




Original content Bob DeMarco, All American Investor