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Home prices keep falling

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(Read caption) This chart shows the S7P/Case-Shiller composite index for home prices since 2000. Home prices have failed to recover from the three-year plummet that began in 2007, and continue to trend steadily downward.

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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.

The latest release of the S&P/Case-Shiller (CSI) home price indices for February reported that the non-seasonally adjusted Composite-10 price index declined 0.78% since January while the Composite-20 index declined 0.76% over the same period resulting in the lowest level seen to on the Composite-10 since April 2003 and the largest peak decline seen since the nearly six year old housing bust began in 2006.

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The latest CSI data clearly indicates that the price trends are experiencing a declining trend into the typically less active summer and fall season and as I recently pointed out, the more timely and less distorted Radar Logic RPX data is continuing to capture notable falling prices driven primarily by seasonality.
The 10-city composite index declined 3.60% as compared to February 2011 while the 20-city composite declined 3.49% over the same period.

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Topping the list of regional peak decliners was Las Vegas at -61.71%, Phoenix at -54.22%, Miami at -50.34%, Tampa at -47.96% and Detroit at -46.01%.
Additionally, both of the broad composite indices show significant peak declines slumping -35.08% for the 10-city national index and -35.02% for the 20-city national index on a peak comparison basis.
To better visualize today’s results use to view the full release.