29 Mar '11, 2pm

#singnews Home prices falling in most major US cities: NEW YORK - HOME prices are falling in most maj... #worldnews

#singnews Home prices falling in most major US cities: NEW YORK - HOME prices are falling in most maj... #worldnews

Home prices are falling in most major US cities, and the average prices in four of them are at their lowest point in 11 years. -- PHOTO: AFP NEW YORK - HOME prices are falling in most major US cities, and the average prices in four of them are at their lowest point in 11 years. The Standard & Poor's/Case-Shiller 20-city index released on Tuesday shows price declines in 19 cities from December to January. Eleven of them are at their lowest level since the housing bust, in 2006 and 2007. The index fell for the sixth straight month. Home values in Atlanta, Las Vegas, Detroit and Cleveland are now below January 2000 levels. The only market where prices rose was Washington, where homes prices gained 0.1 per cent month over month. 'The housing market recession is not yet over, and none of the statistics are indicating any form of sustained recovery,' said David M. Blitzer, chair...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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