Home Prices Fall At Slower Pace

2009 July 1

July 1 2009 - U.S. home prices continued to decline in April, but the pace of depreciation slowed, according to the authoritative Case-Shiller home price index released Tuesday.

“Values are no longer free-falling, they’re just deteriorating,” said Patrick Newport, U.S. economist with Global Insight in Massachusetts.

“I’m guardedly optimistic,” said David Blitzer, managing director of New York’s Standard & Poor’s, which publishes the index. “But clearly we’re also getting a seasonal push, which makes the numbers look better.”

For a 10-city and 20-city composite group, April’s index fell 18 percent and 18.2 percent, respectively, from the same month a year ago. That showed some moderation compared with March, when the index was down 18.7 percent for both the 10-city and 20-city groups versus the year-ago month.

Home prices still slip, but at slower clip

Mortgage Applications Decrease week ending June 26 2009
Construction Spending Decreased in May 2009

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