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Home Prices Fall Further

Signs of the times: in Miami on Feb. 11. Joe Raedle/Getty Images hide caption

toggle caption Joe Raedle/Getty Images

Signs of the times: in Miami on Feb. 11.

Joe Raedle/Getty Images

"There is very little, if any, good news about housing. Prices continue to weaken, trends in sales and construction are disappointing," David M. Blitzer, chairman of the S&P/Case-Shiller Home Price Index Committee says in the latest report from the widely watched S&P/Case-Shiller Home Price Indices.

According to S&P/Case-Shiller's data for February, "prices for the 10-and 20-city composites are lower than a year ago but still slightly above their April 2009 bottom. ... Washington D.C. was the only market to post a year-over-year gain with an annual growth rate of +2.7 percent. Ten of the 11 cities that made new lows in January 2011 saw new lows again in February 2011."

Prices: February 2011 Vs. February 2010

Atlanta - 5.8 percent
Boston -1.0 percent
Charlotte - 5.0 percent
Chicago - 7.6 percent
Cleveland - 2.9 percent

Dallas - 1.2 percent
Denver - 2.6 percent
Detroit - 3.7 percent
Las Vegas - 5.0 percent
Los Angeles - 2.1 percent

Miami - 6.2 percent
Minneapolis - 8.3 percent
New York - 3.1 percent
Phoenix - 8.4 percent
Portland - 7.0 percent

San Diego - 1.8 percent
San Francisco - 3.5 percent
Seattle - 7.5 percent
Tampa - 6.0 percent
Washington + 2.7 percent

20-city composite - 3.3 percent

Source: S&P/Case-Shiller Home Price Indices

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