U.S. Housing Prices Fell Again in January

Housing prices slid in January for the sixth month in a row, putting them barely above the lows reached in the depths of the recession, according to data released Tuesday.

The Standard & Poor’s Case-Shiller Home Price Index for 20 large cities dropped 1 percent from December. The index, which has fallen 31.8 percent from its peak in 2006, is only 1.1 percent above its spring 2009 low.

“The housing market recession is not yet over, and none of the statistics are indicating any form of sustained recovery,” said David M. Blitzer, chairman of the S.& P. index committee, in a statement.

Mr. Blitzer said there was “no real hope in sight for the near future.”

Read Full Article from New York Times

- Posted: 2011-03-29 09:35:00

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