Case-Shiller: Home prices drop for third consecutive month

27 Mar

HousingWire.com – Trey Garrison

Home prices declined in January for the third straight month, slowing the pace of year-over-year appreciation, according to the key 20-city S&P/Case-Shiller survey of home prices. With the decline of -0.08% in January the index saw its longest consecutive streak of declines since March 2012. Economists rushed this morning to say the results do not mean there is a housing bubble and it is popping. Actually, they say, the opposite is true.

Month-on-month, U.S. home prices inched down 0.1% in January, matching expectations and after dipping 0.1% in the preceding month. Fully 12 of 20 tracked cities posting drops. Year-over-year, prices increased 13.24%, a drop from the December year-over-year gain of 13.38%, indicating a general slowing of home price appreciation.

>> Read More: http://www.housingwire.com/articles/29421-case-shiller-home-prices-drop-for-third-consecutive-month

Visit my website at: www.juliecnichols.com

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: