Key index shows home prices moderating
Published: June 30, 2009
NEW YORK -- A key housing index shows a clear trend that home price declines are moderating.
The Standard & Poor's/Case-Shiller index released today showed home prices in 20 major cities tumbled by 18.1 percent from April 2008. The 10-city index fell 18 percent from the year before.
April, however, marked the third straight month both indexes didn't set record price declines. And yearly losses in 13 metros improved compared to March.
Still, the 20-city index is off almost 33 percent from its peak in the second quarter of 2006, and the 10-city has dropped by almost 34 percent, which means home values are now around 2003-levels.
-- The Associated Press
Reader Reactions
I agree with qhgirl, Now if all the local and state government would raise cash proffers,roads and services would have a chance to catch up to the over development.Why should the taxpayer pay for these sub division roads and services?
Hooray.. the free market at work.. when demand and supply start to get in balance.. prices are more stable. Imagine that? All those years of the market being pumped artificially high through false demand.
The real estate profession (including appraisers and mortgage brokers) stoked the fire by pushing people to buy more than they reall could afford. The american public bought into this theory that the house was their own personal cash cow.. and government liked all those extra tax pmts for property.. It was all fine and dandy when things were spiraling up.. now we are getting back to reality..
“Shoes” Spelling = F. The correct spelling for the word is shows.
“Key index shoes home prices moderating”
Oh good! I was so worried about shoes not being able to afford homes! Or is the headline saying that shoe and home prices are moderating?... well in that case, it’s about time shoe prices came down!
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