Wednesday, February 24, 2010
US house prices meanwhile continued to bump along in December, notching a small monthly fall while recording slowing annual declines, while consumer confidence fell sharply on fears about the labor market.
Home prices in the 20 largest US cities fell by 0.2 per cent between November and were off by 3.1 per cent from the same month a year ago, according to the closely -watched Case-Shiller house price index. The annual price refuse has eased each month this year.
In the last three months of 2009, US house prices fell by just 2.5 per cent. That represents a sharp development from the first quarter, when they plunged by 19 per cent.
Last week, President Barack Obama announced $1.5bn in support for housing finance agencies in the states worst-hit by the housing crisis - Nevada, California, Arizona, Florida and Michigan. All have seen falls of more than 20 per cent in home prices.
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by World House Info @ 11:34 PM
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