Keeping you up to date on the latest data releases.
The S&P/Case-Shiller Home Price Index reported continued month-over-month declines for the sixth consecutive month. In January the 10- and 20-city composites were down 0.9 percent and 1.0 percent, respectively from their December 2010 levels. Compared to January 2010, the 10-city composite reported 2.0 percent decline while the 20-city composite reported 3.1 percent decline. San Diego and Washington D.C. were the only two cities to record positive monthly changes in January as well as maintain positive annual rates throughout 2010.
The FHFA reported that United States home prices have fallen for the third straight month decreasing .30 percent in January. Meanwhile, December’s reported decline has been revised to an even steeper 1 percent decrease from November’s prices. Compared to last January, home prices have decreased 3.9 percent. January’s prices varied across the nine census divisions relative to December, ranging from a 1.3 percent decrease in the South Atlantic division to a 1.6 percent increase in the West South Central division. Overall home prices are down 16.5 percent below the April 2007 peak which has led to record numbers of all-cash and first-time home buyers.