The Real Deal Miami

February prices fall, but not as bad as January

April 28, 2009 12:49PM

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