Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

Home Prices Drop Again, Extending a Double-Dip Home Prices Drop Again, Extending a Double-Dip

This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

Economy / ECONOMY

Home Prices Drop Again, Extending a Double-Dip

photo of Catherine Hollander
June 28, 2011

Home prices dropped for the year ending in April, extending a double-dip as the housing market continues to frustrate the nation's economic recovery.

The S&P/Case-Shiller index of property values in 20 cities, released Tuesday morning, showed a 4 percent drop from April 2010, in line with predictions from 30 economists surveyed by Bloomberg. It was the largest decrease in 17 months.

The index actually showed slight improvement from March to April with home prices increasing 0.7 percent on a non-seasonally adjusted basis. A recent decline in gasoline prices may account for some of the improvement from March, as does the start of the spring and summer home-buying season.

 

“It is much too early to tell if this is a turning point or simply due to some warmer weather,” Chairman of the Index Committee at S&P Indices David Blitzer said in a statement. On a seasonally adjusted basis, however, prices actually fell 0.1 percent from March to April—less than the expected 0.2 percent drop, but not quite the rosy picture Blitzer painted.

Blitzer said it would take several months of increased home prices to start a “real recovery.” The report was “better news, but [there are] still a lot of questions and a long way to go,” Blitzer said.

Job Board
Search Jobs
Transportation Planner
American Society of Civil Engineers | Salinas, CA
Biomedical Service Internship Position
American Society of Civil Engineers | Flint, MI
Fire Sprinkler Inspector
American Society of Civil Engineers | Charlotte, NC
Deputy Director of Transit Operations
American Society of Civil Engineers | San Jose, CA
Structural Engineer
American Society of Civil Engineers | New Haven, CT
Assessment and Remediation Team Lead
American Society of Civil Engineers | Regina, SK
Professional Development Program Engineer
American Society of Civil Engineers | Farmington Hills, MI
Assistant Professor - Water Resources/Ecological Engineering
American Society of Civil Engineers | Auburn, AL
Quality Systems Manager
American Society of Civil Engineers | Greensboro, NC
Rail Field Construction Inspector
American Society of Civil Engineers | Jacksonville, FL
Manager, Quality Assurance
American Society of Civil Engineers | Memphis, TN
Sr. Controls Systems Engineer
American Society of Civil Engineers | Grand Island, NE
Quality Engineer
American Society of Civil Engineers | Attica, IN
Civil Engineering
American Society of Civil Engineers | Steamboat Springs, CO
Commissioning Intern
American Society of Civil Engineers | Chicago, IL
 
Comments
comments powered by Disqus