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Home prices may still be at the level they were six or more years ago, but the rate at which they are falling appears to be slowing. That is one of the messages from the data collected by Standard & Poor’s and presented in the Case-Shiller Home Price Index.

This chart demonstrates the annual returns on homes in both a collection of 10 cities and a collection of 20 cities that the firm tracks. According to Standard & Poor’s, home prices in both the 10 and 20 city indexes fell by 12.8% and 13.3%, respectively, in July 2009 compared to July 2008. But all 20 metro areas also showed an improvement in the annual rates of decline, with July’s readings compared to June.

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Peter Westerman


Credit Union Times

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