The Case-Shiller home price indices, released today, reported a drop of .13 in the 10-city to 146.61 and a drop of .04 in the 20-city bringing it to 134.10. The 10-city is down 2.8% over March 2011 while the 20-city is down 2.6%. Most cities held steady or increased slightly. However, Atlanta (-.24), Chicago(-2.65), Boston(-.31), Detroit(-3.09), Minneapolis(-1.01), New York(-1.36), and Portland(-.59) declined. Detroit lost the most in March with it’s decline at 4.4% to a record-low 66.66.
For more information, see our Home Price Report.
–From the St. Louis Federal Reserve