Monday, May 2, 2011

US Home Prices Decline

For the eighth straight month, the price for single-family homes fell in February. The S&P/Case Shiller composite index â€" which measure home prices for twenty cities across America â€" declined by 0.2 percent.

“There is very little, if any, good news about housing. Prices continue to weaken, trends in sales and construction are disappointing,” David Blitzer, chairman of the Index Committee at S&P Indices, said in a statement.

“Recent data on existing-home sales, housing starts, foreclosure activity and employment confirm that we are still in a slow recovery.”

Source: Bloomberg

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