February Case-Shiller Numbers
Today the S&P released the Case-Shiller numbers from February:
In February, the price of single-family homes in 20 major metropolitan areas fell 18.6 percent from the year earlier, compared with a record drop of 19 percent in January …
Half of the 20 metropolitan areas in the housing index posted record year-over-year declines. In all, the Case-Shiller 20-city index was down 2.2 percent from January.
The best thing we can say is that the rate of deceleration is decreasing. And that honestly is a good thing - it doesn’t mean we’ve hit the bottom, but it means it is starting to come into view.
