Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Top News

Encouraging Report on Home Prices

Another sign that housing may have hit the bottom: On July 28 the S&P/Case-Shiller Home Price Indexes reported that the pace of home price declines slowed for the fourth consecutive month in May. Home prices, while posting the first broad increases in almost three years, still remain about 17% below a year ago.

The new report comes one day after the Commerce Dept. reported that the rate of new home sales jumped an unexpected 11% in June.

"Clear Inflection Point" "The pace of descent in home price values appears to be slowing," David M. Blitzer, chairman of the Index Committee at Standard & Poor's, said in a news release. (Standard & Poor's, like BusinessWeek, is a unit of The McGraw-Hill Companies (MHP).) "There is a clear inflection point in the year-over-year data, due to four consecutive months of improved rates of return, after the steep decline that began in the fall of 2005."

According to the report, annual returns of the 10-city and 20-city home price indexes declined 16.8% and 17.1%, respectively, in May, compared with the same month a year ago. That compares with year-over-year price declines of 18.0% and 18.1%, respectively, reported in April.

All the metro areas in the report remained in negative numbers, with 16 out of the 20 posting double-digit declines. The steepest year-over-year declines were again in Phoenix (–34.2%) and Las Vegas (–32.0%). Prices in Dallas (–4.1%) and Denver (–4.6%) were down the least year-over-year.
Mintz is news editor for in New York.

blog comments powered by Disqus