The latest Standard & Poor's Case-Shiller Home Price survey found continued widespread declines in the prices of existing single family homes across the United States during February 2008.
According to the data, 17 of the 20 metro areas covered by the survey suffered falling prices.
"There is no sign of a bottom in the numbers," says David M. Blitzer, Chairman of the Index Committee at Standard & Poor's. "Prices of single family homes continue to drop across the nation. All 20 metro areas were in the red for the February-over-January reading. In addition, 19 of the 20 MSAs are still reporting negative annual returns. The monthly data show that every one of the MSAs has now declined."
Hardest hit areas were Las Vegas and Miami, registering declines of 22.8% and 21.7%, respectively.
See the full press release and city charts here
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