New York Times Tuesday, May 31, 2011

Housing prices fell in March to their lowest point since the downturn began, erasing the last little bit of recovery from the depths plumbed two years ago, according to data released Tuesday.

The Standard & Poor’s Case-Shiller Home Price Index for 20 large cities fell 0.8 percent from February, the eighth drop in a row. Prices are now down 33.1 percent from the July 2006 peak.

In what almost amounts to good news, prices in Tampa Bay were unchanged from their housing-bust lows in March, making the region the seventh “best” performer among the 20 surveyed cities. Miami prices were up 0.3 per cent. At the bottom of the list, Charlotte, where prices dropped 2.6 per cent.

“Home prices continue on their downward spiral with no relief in sight,” said David M. Blitzer, chairman of the S.& P. index …

View full post on All Stories