Case Shiller Index Released…Record Declines Continue….December y/y down 18.2%…

Single Family Home Prices continue record declines…being in the Sunbelt, ground zero for housing collapse, I am ready to LIMBO when these numbers come out..you have to laugh or you lose your mind…

Feel like we need Sha Na Na from Grease..How Low Can You Go!!! LIMBO!!!

home price index records 18.2% decline in 4Q of 08…

20 city composite posts annual decline of 18.5%…10 city composite also sets record decline of 19.2%

Bloomberg:

Home prices in 20 U.S. cities declined 18.5 percent in December from a year earlier, the fastest drop on record, as foreclosures climbed and sales sank.

The decrease in the S&P/Case-Shiller index was more than forecast and followed an 18.2 percent drop in November. The gauge has fallen every month since January 2007, and year-over- year records began in 2001.

…Compared with a year earlier, all areas in the 20-city survey showed a decrease in prices in December, led by a 34 percent drop in Phoenix, a 33 percent slide in Las Vegas and a 31 percent decline in San Francisco.

Quarterly Figures

S&P/Case-Shiller also released quarterly figures for home prices nationally. That measure showed an 18.2 percent drop in the three months through December from the same period in 2007, compared with a 16.6 percent year-over-year decline in last year’s third quarter.

“The broad downturn in the residential real estate market continues,” David Blitzer, chairman of the index committee at S&P, said in a statement. “There are very few, if any, pockets of turnaround that one can see in the data.”

February 24, 2009. Tags: , , , , , , , , , , , , , . Doo Wop, Economy, Entertainment, Film, Finance, Foreclosures, Housing, Music, Obama Administration, Politics, Popular Culture, Uncategorized, Wall St. 1 comment.

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