From the FINANCIAL TIMES:
…The S&P/Case-Shiller home price index showed prices of single-family homes in the 20 largest US cities fell 0.2 per cent from December to January on a seasonally adjusted basis. Economists had expected a 0.4 per cent decline.
Prices were 3.1 per cent lower than January 2010, in line with economists’ forecasts. It was the biggest yearly decline since December 2009, and left the index 31.8 per cent below its summer 2006 peak. Prices have recovered just 1.1 per cent since hitting a trough in April 2009.
The data showed “no real hope in sight for the near future”, said David Blitzer, chairman of S&P’s index committee. “None of the statistics are indicating any form of sustained recovery,” he added…
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