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Home prices continue to improve nationwide
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The Standard & Poor's data for the S&P/Case-Shiller Home Price Indices released Oct. 27 show that the annual rate of decline of the 10-City and 20-City Composites improved from July 2009 to August 2009, when means that home price statistics have improved for seven months in a row, since early in 2009.
Broadly speaking, the rate of annual decline in home price values continues to improve," says David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s. “The two Composites and 19 of the 20 metro areas showed an improvement in the annual rates of return, as seen through a moderation in their annual declines. Looking at the monthly data, 17 of the MSAs and both Composites saw price increases
1 Case-Shiller® and Case-Shiller Indexes® are registered trademarks of Fiserv, Inc.
in August over July. While many of the markets remain down versus this time last year, the relative rate of decline has shown some real improvement."
Overall, the seasonally adjusted price increase showed an improvement of 1% for the 20-City Composite chart from July to August, although prices in that composite group declined 11.3% from August 2008 to August 2009.
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