Housing Market Still Headed in the Wrong Direction
Posted on Mar 29, 2011
Saying the word recovery over and over won’t change the fact that the U.S. housing market is continuing its nose dive. David Blitzer of S&P tells the BBC, “Keeping with the trends set in late 2010, January brings us weakening home prices with no real hope in sight for the near future.” —PZS
US single family home prices fell for the seventh month in a row in January, according to the S&P/Case-Shiller index of prices.
It monitors 20 metropolitan areas and found that seasonally adjusted prices had fallen in 12 of them.
In four cities, prices were at their lowest for 11 years, with the overall index down 0.2% between December and January.
Håkan Dahlström (CC-BY)