Case Shiller Index Shows Housing Crisis Is Not Over

Before you go, we thought you'd like these...
Before you go close icon
case shillerHome values are having a bad 2011 so far, despite hopes for a spring recovery. The S&P/Case-Shiller index of home values in 20 cities fell 3.3 percent in February 2011 from the same month a year earlier. Washington, D.C., was the only market covered by the index to post a year-over-year increase, 2.7 percent. In a more troubling development, 10 of the 11 cities in the index dropped to new lows in January 2011, reached new lows in February 2011, as well. Detroit was the only one of that group that eked out a positive return, of 1.0 percent. A swell in the number of foreclosures is keeping home values from improving. Said David M. Blitzer, chairman of the index committee at Standard & Poor's: "There is very little, if any, good news about housing."


More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.



Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

Find a New Home

Buy
Rent
Value
Powered by Zillow

From Our Partners

This Elephant Was Separated From Her Mother As A Baby - But She's About To Get A Huge This Elephant Was Separated From Her Mother As A Baby - But She's About To Get A Huge
19 of the Creepiest, Most Inexplicable Things People Ever Experienced 19 of the Creepiest, Most Inexplicable Things People Ever Experienced
Man Built This Contraption In His Backyard - And Even He Was Surprised How Well It Worked Man Built This Contraption In His Backyard - And Even He Was Surprised How Well It Worked