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Home Prices Fall Further

Signs of the times: in Miami on Feb. 11.
Joe Raedle
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Signs of the times: in Miami on Feb. 11.

"There is very little, if any, good news about housing. Prices continue to weaken, trends in sales and construction are disappointing," David M. Blitzer, chairman of the S&P/Case-Shiller Home Price Index Committee says in the latest report from the widely watched S&P/Case-Shiller Home Price Indices.

According to S&P/Case-Shiller's data for February, "prices for the 10-and 20-city composites are lower than a year ago but still slightly above their April 2009 bottom. ... Washington D.C. was the only market to post a year-over-year gain with an annual growth rate of +2.7 percent. Ten of the 11 cities that made new lows in January 2011 saw new lows again in February 2011."

Prices: February 2011 Vs. February 2010

Atlanta - 5.8 percent

Boston -1.0 percent

Charlotte - 5.0 percent

Chicago - 7.6 percent

Cleveland - 2.9 percent

Dallas - 1.2 percent

Denver - 2.6 percent

Detroit - 3.7 percent

Las Vegas - 5.0 percent

Los Angeles - 2.1 percent

Miami - 6.2 percent

Minneapolis - 8.3 percent

New York - 3.1 percent

Phoenix - 8.4 percent

Portland - 7.0 percent

San Diego - 1.8 percent

San Francisco - 3.5 percent

Seattle - 7.5 percent

Tampa - 6.0 percent

Washington + 2.7 percent

20-city composite - 3.3 percent

Source: S&P/Case-Shiller Home Price Indices

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Mark Memmott
Mark Memmott is NPR's supervising senior editor for Standards & Practices. In that role, he's a resource for NPR's journalists – helping them raise the right questions as they do their work and uphold the organization's standards.