RTTNews - Home prices continued to show record declines in the first quarter, according to a report released by Standard & Poor's on Tuesday, with the data suggesting that the recent signs of stabilization in the housing market have not yet led to a turnaround in prices.
The report showed that the S&P/Case-Shiller U.S. National Home Price Index fell 19.1 percent in the first quarter compared to the same quarter a year ago. The decrease marked the steepest decline in the series' 21-year history.
S&P added that the 20-City Composite Home Price Index fell at an annual rate of 18.7 percent in March compared to economist estimates of an 18.4 percent decline. The 10-City Composite Home Price Index for March was down 18.6 percent year-over-year.
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