U.S. Home Prices Fell for the 17th Month in a Row

Wow.

U.S. home prices fell for the 17th month in a row with all regions showing the effect of the housing slowdown, according to a housing index released Tuesday by Standard & Poor’s.
For April, the S&P/Case-Shiller index that covers 10 U.S. cities fell 2.7 percent from a year ago. It was the steepest decline since 1991.
The S&P’s 20-city index showed a 2.1 percent drop in the price for sales of existing single-family homes across the U.S.
The April sales figures show that 14 of 20 cities reported prices had dropped or remained flat compared to 2006, S&P said.
“No region is immune to the weakening price returns,” MacroMarkets Chief Economist Robert Shiller said in a statement.

Posted by Eddy Elfenbein on June 26th, 2007 at 12:24 pm

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