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Home Prices Tumble Again; 'No Sign of a Bottom'
Topics:Subprime Lending | Mortgages | Housing | Real Estate | Consumers
Sectors:Construction and Materials
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AP |
The composite month-over-month index of 20 metropolitan areas fell 2.6 percent to 175.94 in February from January, for an annual drop of 12.7 percent.
S&P said its composite month-over-month index of 10 metro areas slid 2.8 percent in February to 190.58, for an record annual decline of 13.6 percent.
Investor Takeaway
Eight of the top 20 metro areas, as well as both composite measures had their biggest monthly declines in February, S&P said in the release.
The pace of the monthly drop accelerated in February, with the 20-city index sliding 2.4 percent and the 10-city index falling 2.3 percent in January.
"There is no sign of a bottom in the numbers," David Blitzer, chairman of the index committee at S&P, said in a press release.
Copyright 2009 Reuters. Click for restrictions.
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