Nationwide housing prices near 2009 lows

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Only Washington, D.C. was spared from another month of falling home prices as the national average edged closer to 2009 lows, according to the latest Standard & Poor’s/Case-Shiller Home Price Indices released today. The February data shows that the 10-city composite fell 2.6 percent, and the 20-city composite was down 3.3 percent, from February 2010, and the 20-city composite has nearly returned to its April 2009 lows — equaling the value of U.S. homes in the summer of 2003. Of the 20 major cities tracked, 16 saw housing price declines of at least 2 percent from last year, with Washington D.C.’s 2.7 percent gain representing the only increase. New York was down 3.1 percent from February 2010, to 165.19, or 65.19 percent greater than January 2000 prices. The city’s housing prices haven’t been this weak since February 2004, according to the study. Miami experienced the sixth largest year-over-year decline at 6.2 percent, bringing housing prices to their lowest points since October 2002. TRD