"'While the declines in residential real estate continued into February, we witnessed some deceleration in the rate of decline in some of the markets,' says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s. 'All 20 metro areas recorded a monthly decline in February, but 16 of the 20 metro areas saw an improvement in their monthly returns compared to January. Nine of the 20 metro areas showed improvement in their annual returns compared to their returns in January. Furthermore, this is the first month since October 2007 where the 10- and 20-City Composites did not post a record annual decline. We will certainly need a few more months of data before we can determine if home prices are finally turning around.'
. . .
Cleveland, Charlotte, New York and Washington were the only MSA’s showing larger declines in home prices in February compared to January’s report".
Tuesday, April 28, 2009
Posted by Harriet at 8:51 AM