Home Prices Still Falling - Declined 3.9% During 4th Quarter 2010
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Home Prices Still Falling - Declined 3.9% During 4th Quarter 2010

Data through December 2010, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index declined by 3.9% during the fourth quarter of 2010.

New data released by the S&P Case Shiller Index show that US home prices declined 3.9% in the fourth quarter of 2010. The only cities that did not experience a decline were Washington DC and San Diego. Here's what David M. Blitzer, the chair of Index Committee at S&P had to say:

“Unlike the 2006 to 2009 period when all cities saw prices move together, we see some differing stories around the country. California is doing better with gains from their low points in Los Angeles, San Diego and San Francisco.  At the other end is the Sun Belt – Las Vegas, Miami, Phoenix and Tampa. All four made new lows in December. Also seeing renewed weakness are some cities that were among the last to  each their peaks including Atlanta, Charlotte, Portland OR and Seattle, where news lows were also seen. Dallas, which peaked late, has so far stayed above its low marked in February 2009.”

Housing prices have taken quite a hit over the last three years and are now back to their 2003 levels. For first-time homebuyers this is good news as the price to enter the market has continued to come down. For existing homebuyers or underwater homebuyers, the news continues to be grim.

Sol Nasisi
Sol Nasisi: Sol Nasisi is the co-founder and a past president of BestCashCow, an online resource for comprehensive bank rate information. In this capacity, he closely followed rate trends for all savings-related and loan products and the impact of rate fluctuations on the economy. He specifically focused on how rates impact consumers' ability to borrow and save. He also has authored a wee

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