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S&P/Case-Shiller index shows home prices at lowest since housing collapse

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(Read caption) This chart shows the S&P/Case-Shiller home price index value for 10 US cities, starting in 2000. The latest data, from March 2011, show that home prices in the Composite-10 index are close to the lowest levels since the housing collapse started in 2006.

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Note... be sure to bookmark the overall S&P/Case-Shiller Dashboard or the Scary Housing Dashboard of the weakest markets for a real-time view of all the markets tracked by S&P.

Today’s release of the S&P/Case-Shiller (CSI) home price indices for March reported that the non-seasonally adjusted Composite-10 price index declined 0.62% since February while the Composite-20 index declined 0.77% over the same period falling to the lowest level seen since the Great Housing Collapse commenced in 2006 further indicating that housing is continuing slump into a double-dip.

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The latest CSI data clearly indicates that the price trends are continuing to slump and, as I recently pointed out, the more timely and less distorted Radar Logic RPX data is continuing to capture notable price weakness nationwide.

Further, both composite indices are now showing notable year-over-year declines, a weak sign indeed.

The 10-city composite index declined 2.91% as compared to March 2010 while the 20-city composite declined 3.61% over the same period.

Topping the list of regional peak decliners was Las Vegas at -58.61%, Phoenix at -55.91%, Miami at -51.12%, Detroit at -47.21% and Tampa at -46.63%.
Additionally, both of the broad composite indices show significant peak declines slumping -32.98% for the 10-city national index and -33.10% for the 20-city national index on a peak comparison basis.

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