Tuesday, February 22, 2011

Home Prices in U.S. Drop To 2009's Lows, 6 Straight Months of Declines

The latest report from the S&P/Case-Shiller confirm that the recovery in the U.S. is still very shaky. Home prices have dropped for 6 straight months, and dropped 4.1% just in the  last three months of 2010.

Seasonally adjusted, the national index surpassed its the low it hit in Q1 2009.

The decline was widespread, 18 of the 20 large cities had losses for the year. The only gains were posted by Washington, +4.1%, and San Diego, +1.7%.

Detroit was the biggest loser, with prices dropping a staggering 9.1%.

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