February Home Prices Up Over Last Year
Home prices fell 0.9 percent in February compared with the prior month in 20 cities across the United States, according to the S&P Case-Shiller Home Price Index.
That was the index's fifth straight monthly decline.
However, prices were up 0.6 percent compared to February 2009. It was the first time in more than three years that monthly prices were higher than they were a year earlier.
Boston home prices fell by 1 percent between January and February and were up 1.8 percent compared to February 2009.
San Diego was the only city in the Case-Shiller survey to record an increase between January and February. Prices there were up 0.6 percent.
Portland, Ore. showed the largest decline, 2.4 percent.
S&P warned that prices could continue to fall as foreclosures continue to plague the market and federal subsidies for homebuyers expire.
WBJ Web Partners
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