The Standard & Poor’s/Case-Shiller Home Price Index show house prices in the U.S. are continuing to fall. Prices for the 12 months to April ’09 fell 18.1%, only slightly slower than the 18.7% year on year fall to March ’09.
From the dizzy peak three years ago, U.S. house prices have fallen 32.6% with no relief in sight. The slightly moderating fall has called on some to believe the housing crash is almost over, but it’s hard to believe this when you look at forward estimated loan resets. Credit Suisse suggests peak resets will occur in mid 2010 and not slow down until 2012.
ยป Pace of home price declines slows in April – The Washington Post, 30th June 2009.