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S&P/Case-Shiller Home Price Indices continues decline
Data through December 2008, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the prices of existing single family homes across the United States continue to set record declines, a trend that prevailed throughout all of 2007 and 2008.
The decline in the S&P/Case-Shiller U.S. National Home Price Index – which covers all nine U.S. census divisions – recorded an 18.2% decline in the 4th quarter of 2008 versus the 4th quarter of 2007, the largest in the series’ 21-year history. The 10-City and 20-City Composites also set new records, with annual declines of 19.2% and 18.5%, respectively.
Posted: February 24, 2009 Tuesday 09:00 AM