Home Prices Decline Again
The American market for single-family homes continued to wobble, with prices declining again in November, nearly six years after they began to fall, a private report showed on Tuesday.
Single-family house prices in a group of 20 metropolitan areas tracked by the Standard & Poor’s Case-Shiller composite index fell by close to 0.7 percent from October, and were down by 3.7 percent from November 2010, worse than the 3.4 percent annual decline seen in October.
Average home prices were back down to levels last seen in mid-2003, the index showed.
This news doesn’t mix so well with all the stories that are desperately trying to point out all the positive signs that supposedly signal that the country is emerging from the recession.