S&P: US home prices tumble a record 14.1 pct in 1Q

水管工

NEW YORK - U.S. home prices dropped at the sharpest rate in two decades during the first quarter, a closely watched index showed Tuesday, a somber indication that the housing slump continues to deepen.

Standard & Poor's/Case-Shiller said its national home price index fell 14.1 percent in the first quarter compared with a year earlier, the lowest since its inception in 1988. The quarterly index covers all nine U.S. Census divisions.
: X  q; N( G4 G, @
Prices nationwide are at levels not seen since the third quarter of 2004, according to Maureen Maitland, a S&P vice president. However, the index is still up 60 percent versus 2000.

2 y) m' a8 l# XTwo narrower indices set record declines in March versus the previous year. The 20-city index tumbled 14.4 percent, the lowest since that index was started in 2001. The 10-city index plunged 15.3 percent, a record in its 20-year history.

"There are very few silver linings that one can see in the data. Most of the nation appears to remain on a downward path," said David Blitzer, chairman of S&P's index committee.
6 d2 A7 q  I  [- `! E: B% H/ }
! V6 L" _8 \; \. d1 a8 d( C5 ~Nineteen of the 20 metro areas reported annual declines, with 15 of them posting record lows. Six metro areas lost more than 20 percent.
- J2 g) N, `) U0 T1 L% u4 H+ P
Las Vegas had the worst performance in March, falling 25.9 percent from a year earlier, followed by Miami and Phoenix. Only Charlotte, N.C., stayed above water, gaining less than 1 percent over the previous year.
! E9 u; ~, ?! N" I
Last week, the Office of Federal Housing Enterprise Oversight said home prices fell 3.1 percent in the first quarter, the largest drop in its 17-year history and only the second quarter of price declines recorded.
) N' }& ~: w+ O8 M' d/ \
The OFHEO index is narrower in scope and is calculated using mortgages of $417,000 or less that are bought or backed by Fannie Mae or Freddie Mac. That excludes properties bought with some of the riskier types of home loans.
7 E* }6 f- Y$ T( |
6 x6 R+ i# B$ o  `" t3 ^(This version CORRECTS that 20-city and 10-city metro area figures are for March sted 1st quarter) )

, j/ M# Z: [  z. c9 }[ 本帖最后由 水管工 于 2008-6-4 09:20 编辑 ]

yj151