Data through October 2009 released today in the S&P/Case-Shiller1 Home Price Indices, which omit apartment sales, record improvement in the annual rate of decline of the 10-City and 20-City Composites compared with September’s reading. It was approximately the ninth month of better readings in the statistics, beginning in early 2009.
As of October 2009, average home prices across the U.S. were similar to the autumn of 2003. From the peak in Q2 of 2006 through the trough in April 2009, the 10-City Composite is down 33.5% and the 20-City Composite is down 32.6%. With the relative improvement of the past few months, the peak-to-date figures through October 2009 are -29.8% and -29.0%, respectively.
The 10-City and 20-City Composite Home Price Indices declined Continue reading
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