Keeping you up to date on the latest data releases.
The S&P/Case-Shiller Home Price Index reported that both the 10- and 20-city composites were down 1.1 percent from January. Compared to February 2010, the 10-City composite fell 2.6 percent and the 20-city composite was down 3.3 percent. Detroit was the only city to post a increase from January, while Washington D.C. is the only city to post levels higher than last February.
The FHFA reported that U.S. housing prices in February continued to decline for the fourth consecutive month since November 2010. Prices fell 1.6 percent on a seasonally adjusted basis from January’s steeply revised index value of 184.8 and 5.7 percent from one year earlier. Across all census divisions prices fell between 11.8 and 2.9 percent, with the greatest decline coming from the Mountain region which contains, among other states, Arizona and Nevada. Overall prices are still 18.6 percent below April 2007 peak which continues weaken the already struggling housing market.