For months, housing experts have suggested we’re near the bottom of the drop in housing prices, but we never actually seem to get there. Today, the Case-Shiller Index, which tracks the resale price of homes, shows that home values are still dropping, and a rebound in home prices is fading.
“While we continue to see improvements in the year-over-year data for all 20 cities, the rebound in housing prices seen last fall is fading. Fewer cities experienced month-to-month gains in January than in December 2009, on both a seasonally adjusted and unadjusted basis.” said David Blitzer, chairman of the Index Committee at Standard & Poor’s, said in his release.
The Minneapolis area’s prices also dropped from December to January, not as much as some cities, but the market is still nothing to write home about:
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After recording several months of improved resale prices, Minneapolis has now recorded four straight months of declines, according to the index.
Compared to a year ago, Minneapolis is slightly ahead — one of only three cities that can make the claim — but not by a lot.
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