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Good News! Case-Shiller Home Price Index Didn't Break a Record in February

  • April 28th 2009

by Mark Wellborn

The Standard and Poor’s Case-Shiller Home Price Index for the month of February did not break any records. And that is a good thing.

The monthly report, released Tuesday, showed that home prices in the twenty U.S. cities that the report covers fell at an annual rate of 18.6 percent between February 2008 and February 2009. That rate of decline was slightly lower than the 19 percent reported for January, but more importantly, the annual rate of decline did not set a new record for the first time in sixteen months.

In January, the statistics for the DC area were in line with the national rate as residential property prices in the city dropped 19.3 percent in the last year. That number dropped only slightly in February to 19.2 percent.

This article originally published at https://dc.urbanturf.com/articles/blog/good_news_case-shiller_home_price_index_didnt_break_a_record_in_february/849.

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