Pace of home-price decline slows
Standard & Poor’s S&P/Case-Shiller Home Price Indices shows the home sale-price bloodbath is continuing, but the pace is slowing. For the first time in 16 months, the indices’ 10-City and 20-City composites did not set a new low mark.
“While the declines in residential real estate continued into February, we witnessed some deceleration in the rate of decline in some of the markets,” David Blitzer, chairman of the Index Committee at Standard & Poor’s, said in a news release. “We will certainly need a few more months of data before we can determine if home prices are finally turning around.”
While the Triangle isn’t one of the 20 metropolitan areas surveyed, the Charlotte area is. It was one of four metropolitan statistical areas showing larger declines in home prices in February compared to January.
For more detail, visit the S&P website.
