FXstreet.com (Barcelona) - Housing prices continue declining in the United States, a trend that according to the Standard & Poor has prevailed during the year 2007, and has not lost strength in the present year.
The 20-City index has declined 14.4% in March, from the same month last year, while the 10-City composite declined 15.3% year on year. In the first quarter of the year, the 20-City house prices index declined 14.1% from the same period last year, that is the largest yearly decline in the series' 20 year history.
Las Vegas, Miami and Phoenix posted the largest declines, all of them well above 20%, and 19 out of the 20 metro areas surveyed posted losses, and six of them losses larger than 20%. Similar picture is seen in the monthly change, although in this case, two of the metro areas recorded increases on the housing prices.