There was a 0.6 percent gain in home prices in February, the first annual gain since the end of 2006. This was helped by the temporary tax credits for homebuyers.
The Standard & Poor’s/Case-Shiller home price index released Tuesday squeezed out a 0.6 percent gain. But that was half the increase analysts had expected. On a more cautionary note, 11 of the 20 cities tracked by the index showed declines from February last year.
The data underscored the fragile nature of the housing recovery. Nationally, home prices are up more than 3 percent from the bottom in May 2009, but still are 30 percent below the May 2006 peak.
And there is a “risk that home prices could decline further before experiencing any sustained gains,” cautioned David Blitzer, chairman of the S&P index committee. “It i

Recent Comments