Wednesday, February 23, 2011

Case-Shiller: Home prices still falling

Year-over-year home prices are down 4.1% according to the latest S&P/Case-Shiller data. Yale economist Robert Shiller predicts prices could fall 15% - 25% more.
Home prices took a big hit at the end of 2010, even as the rest of the economy gained steam.

National home prices fell 4.1% during the last three months of 2010, compared with 12 months earlier, according to the latest report from the S&P/Case-Shiller home price index, a closely watched indicator of market trends. ...

And things may get a lot worse, said Robert Shiller, a Yale economist and half of the Case-Shiller team, in a web conference after the report's release.

"There's a substantial risk of home prices falling another 15%, 20% or 25% more," he said.
The full press release is here.

No comments:

Post a Comment