Tuesday, March 25, 2008

S&P: Home Prices Through January Down 11%

Existing single family home prices fell 10.7% through January year-over-year in the 20-City Composite Index compiled by Standard & Poor/Case-Shiller.
“Unfortunately it does not look like early 2008 is marking any turnaround in the housing market, after the declining year recorded throughout 2007,” says David M. Blitzer, Chairman of the Index Committee at S&P. “Home prices continue to fall, decelerate and reach record lows across the nation. No markets seem to be completely immune from the housing crisis."

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