The S&P/Case-Shiller Home Price Indices shows the U.S. National Home Price Index up just 0.1 percent from the second quarter. But, though the national index registered a drop of 3.9 percent from the third quarter of last year, the rate of decline improved over the year-over-year decrease seen in the second quarter. In September, the annual rate of change improved from August in 14 of the 20 cities covered by the index. David Blitzer, chairman of the index committee at S&P Indices, said the plunging collapse of prices seen in 2007-2009 seems to be over, though a stronger economy would be needed for any sustained recovery. The Federal Housing Finance Agency also found prices relatively flat in the third quarter. Their index recorded a 0.2 percent increase. Andrew Leventis, FHFA’s principal economist, said most regions of the country saw relatively stable home values during the third quarter. More here and here.
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