The home-price roller coaster
By Glenn Roberts, Jr., Tuesday, February 27, 2007.
A series of home-price indices released today by Standard & Poor's (see Inman News) show a major drop in U.S. home-price appreciation in 2006 – the sharpest slide since 1989-1990. The latest S&P/Case-Shiller Home Price Indices include home-price trends for 20 metro areas and a new U.S. Home Price Index that tracks home-price appreciation (or depreciation) for all nine U.S. Census divisions. The national index fell 0.7 percent in the fourth quarter and ended the year at 0.4 percent annual growth, compared to about 16 percent annual growth at the end of 2005.
Meanwhile, the National Association of Realtors today reported that the U.S. median existing-home price dropped 3.1 percent in January compared to January 2006 (see Inman News).
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