New results, same old story -- housing market sucks

Posted Aug 28th 2007 11:09AM by Tom Barlow
Filed under: Analyst Reports, Indices, Economic Data, Housing

Figures released today in the Standard & Poor's Case-Shiller Home Price Indices illustrate the continuing malaise in the housing market. The index tracks the relative value of residential real estate in the U.S. by following the change in sale price of individual houses.

With a baseline of 100 in the first quarter of 2000, the 2nd quarter of 2007 index finished at 183.89, down 1% from the 1st quarter and 1.9% since the end of 2006. This represents the 4th consecutive quarter of diminishing value and a drop of 3.2% year over year, the biggest one-year drop in the 20 years of the survey.

Those communities suffering the worst decline over the past year, according to the report, are Detroit (-11.0%), Tampa (-7.7%), and Washington (-7.0%). Those that fared better included Seattle (+7.9%), Charlotte (6.8%), and Portland (+4.5%).

Tags: housing, housing market, housing slump, HousingMarket, HousingSlump, inthenews

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Reader Comments (Page 1 of 1)

8-28-2007 @ 11:30AM

Craig said...

Take a look at what we really have. The next President is going to have his or her hands full; poor credit economy; poor medical care economy; increasing baby boomer going into retirement and a war that is financially bleeding us dry let alone the human toll it is costing us. We can't forget the bridges; what is it; 70,000 in poor repair? One wonders who would take that job!! I hope the entire scope as to what we are facing is dicussed, in depth, by the various candidates. I will vote for the one I thinks has the best plan and I don't care what gender, faith, race or party that individual is.