U.S. Home Prices Still Falling
Posted In: Home Prices, Housing
From the Associated Press this morning:
A closely watched index shows home prices tumbling by the sharpest annual rate ever in July, but the rate of decline is slowing.
The Standard & Poor’s/Case-Shiller 20-city housing index released Tuesday fell a record 16.3 percent in July from the year-ago period, the largest drop since its inception in 2000. The 10-city index plunged 17.5 percent, its biggest decline in its 21-year history.
Home values in all 20 cities fell year-over-year, with Las Vegas prices plunging the most at nearly 30 percent.
You can view the Standard & Poor’s press release, in .pdf format, here.
Source:
“S&P: Home prices post 16 pct. annual drop in July”
Associated Press, September 30, 2008
September 30th, 2008 at 12:35 pm
This is good news for people like me, who have paid off first mortagages, saved money, and are looking to upgrade to a new home.
Unfortunately, there seem to be only about eight other people like me in the US, and they all write blogs.
October 2nd, 2008 at 12:08 am
Thanks for the comment Days.
“Unfortunately, there seem to be only about eight other people like me in the US, and they all write blogs.”
I had a feeling not all bloggers were idiots such as myself…