Nationally, Case-Shiller home prices decline 2% in Q1 to new post-crisis lows

Another reason NOT to be paying above current market support  for Baton Rouge Housing!  Question is….do you know where current market support is for the home you plan on buying?  If not, how will you make a purchase decision without the needed facts involved?  Baton Rouge Pre-Purchase Home Appraisals can provide you with detailed market data and an unbiased value of the home you plan on purchasing! 

From HousingWire on 05/29/2012: “Home prices nationwide continued to decline in the first quarter of 2012, but at a moderate pace, according to the latest Standard & Poor’s/Case-Shiller Home Price Indices. S&P called the drop in prices as hitting “new post-crisis lows.”

The national composite index fell 2% over the fourth quarter in Q1 and 1.9% from the year earlier period, S&P said.

The 10- and 20-city composite indexes had annual returns of -2.8% and -2.6%, respectively, for the month of March.

Cities that saw home prices hit new lows in the most recent report for March included Atlanta, Chicago, Las Vegas, New York and Portland.

“The national composite fell by 2.0% in the first quarter alone, and is down 35.1% from its second quarter 2006 peak, in addition to recording a new record low. The 10- and 20-city composite mimic these results; also down about 35% from their relative peaks and hit new lows.“” 

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