February prices fall, but not as bad as January

S&P/Case-Schiller
reports that in its 20-city composite, prices fell 18.6 percent during
the month of February, a slight improvement from January when prices
fell by 19 percent. February is the first month since October 2007 when
the composite did not post a record annual decline. Miami’s level fell 3 percent compared to January, and 29.5 percent from the same time last year. The index does not include condos
or co-ops. David Blitzer, chairman of the index committee at S&P,
said all 20 metro areas recorded a monthly decline in February, but 16
of the 20 areas saw improvements in their monthly returns and nine
areas showed improvements in their annual returns. TRD

Sign Up for the undefined Newsletter