Index Shows Deceleration Of Price Declines

Posted by Orb Staff on April 28, 2009 No Comments
Categories : Residential Mortgage

rices fell 18.6% year-over-year in February, representing a slowed decline compared to January's 19% annual drop, according to the S&P/Case-Shiller index. Prices declined 2.2% in February, less than the 2.8% decline reported for January, signifying the housing market may have reached its bottom. February was the first month that the 20-city index did not post a record year-over-year decline since the index began falling in 2007, [link=http://www.bloomberg.com/apps/news?pid=20601068&sid=aI5Aw84MViGI&refer=home][u]Bloomberg notes[/u][/link]. The 10-city index fell 18.8% year-over-year in February, whereas it fell 19.4% in January. SOURCE: S&P/Case-Shiller, Bl

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