DECEMBER CASE SHILLER HOME PRICE INDEX: 150.66 V 154.59 PRIOR
COMPOSITE 20 INDEX: -18.55% V -18.20% PRIOR
- For the fourth consecutive month all 20 regions experienced price declines
From the WSJ:
Home prices continued their multiyear slide in December, according to the S&P/Case-Shiller home-price indexes, as both the 10-city and 20-city index posted record declines, making 2008 the second-straight full year of declining home prices.
The Sun Belt continues to be hit hardest, and nationally, home prices are at levels similar to late 2003.
The U.S. National Home Price index, which covers all nine U.S. census divisions, fell 18% in the fourth quarter from a year earlier, the largest decline in the measure’s 21-year history.
“There are very few, if any, pockets of turnaround that one can see in the data,” said David M. Blitzer, chairman of S&P’s index committee. “Most of the nation appears to remain on a downward path, with all of the 20 metro areas reporting annual declines, and eight of those [areas] now with negative rates exceeding 20%.”
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