While existing home sales may be on the rise in most regions, it seems that price are still on the decline.
These numbers come from the Case-Shiller index, which measures the residential housing market, tracking changes in the value of the residential real estate market in 20 metropolitan regions across the United States. The index showed prices down 15.9 percent from a year earlier.
Boston, Denver, and Minneapolis were the only cities in the index which indicated a rise in prices in the month of June, though the rise was still only moderate.
"While there is no national turnaround in residential real estate prices, it is possible that we are seeing some regions struggling to come back, which has resulted in some moderation in price declines at the national level," said David M. Blitzer, Chairman of the Index Committee at Standard & Poor's.
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Published: August 27, 2008
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