The Joplin Globe, Joplin, MO


May 29, 2012

Home prices’ decline slows, according to index

LOS ANGELES — An index of home prices in 20 American cities slumped in March compared to a year earlier, but the slide was the slowest since December 2010.

The S&P Case Shiller index of property values fell 2.6 percent after falling 3.5 percent in February.

On a seasonally adjusted basis, however, the index rose from the month before after a similar increase in February — the two-month streak since a tax credit for home-buyers expired in spring 2010.

The data signal a potential turnaround in the housing market, or at the very least signs of stabilization, analysts believe.

Home values showed year-over-year declines in 13 of the index’s 20 cities. Cities reaching new lows were Chicago; Las Vegas; New York; Portland, Ore.; and Atlanta, which suffered an 18 percent plunge.

Phoenix had the most substantial increase, with prices rising 6.1 percent.

The index, created by economists Karl E. Case and Robert J. Shiller, is widely considered the most reliable read on home values. The housing index compares the latest sales of detached houses with previous sales and accounts for factors such as remodeling that might affect a house’s sale price over time.


Text Only

In an effort to curb prostitution, St. Louis police are targeting, and perhaps humiliating, the "johns" who use the services. Postcards mailed to the homes of those charged with trying to pick up prostitutes will offer a reminder about spreading sexually transmitted diseases, along with listing the court date. Do you think this is a good approach?

A. Yes.
N. No.
     View Results
Twitter Updates
Follow us on twitter
NDN Video
Tributes Mark Boston Bombing Anniversary Raw: Kan. Shooting Suspect Faces Judge US Supports Ukraine's Efforts to Calm Tensions Suspect in Kansas Shootings Faces Murder Charges Ukraine: Military Recaptures Eastern Airport Raw: Storm Topples RVs Near Miss. Gulf Coast NASA Showcases Lunar Eclipse Pistorius Cries During Final Cross-Examination The Boston Marathon Bombing: One Year Later Michael Phelps Set to Come Out of Retirement First Women Move to Army Platoon Artillery Jobs Sex Offenders Charged in Serial Killings Police: Woman Stored Dead Babies in Garage OC Serial Murder Suspects May Have More Victims Family: 2 Shot in Head at Kan. Jewish Center Raw: Horse Jumping Inspires 'Bunny Hop' After Attack, Officials Kill 5 Bears in Florida Popular Science Honors Year's Top Inventions ND Oil Boom Attracting Drug Traffickers