S&P/Case-Shiller: Home prices down 18.6% YOY in February
The latest figures from S&P/Case-Shiller continue to show home prices falling, though the rate of decline has stabilized a bit. The 20-city index dropped at an 18.6% year-over-year rate in February, compared with 19% in the prior month. On a monthly basis, the index fell 2.2%. That compared with a decline of 2.8% a month earlier.
All metropolitan areas in the index dropped on both monthly and annual bases. From a year earlier, the biggest declines were in Phoenix (-35.2%), Las Vegas (31.7%), and San Francisco (-31%). Dallas (-4.5%) and Denver (-5.7%) held up the best.