US Housing Prices Fell Again, the latest S&P Data Shows: No Signs of Recovery

The latest S&P/Case-Shiller index of Home Prices in 20 US cities declined 3.7 percent from November 2010 after decreasing 3.4 percent in the year ended in October, the group said today. That is worse than 3.3 percent drop that economists projected.

US Home prices are now back to early 2003 levels.

Here are comments from S&P researchers:

The trend is down and there are few, if any, signs in the numbers that a turning point is close at hand.

On top of that, Another Wave of Foreclosures threatens to keep the pressure on prices and delay recovery in the industry that precipitated the last recession, underscoring the Federal Reserve’s view that US housing “Remains Depressed.”

In these conditions of the Housing Market, it is very hard to have your house sold now.

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