Survey: Home Prices Depreciate for the Year

by John O'Leary

On the National Housing News front, Standard & Poors released a report showing that prices of single-family homes dropped in January compared to a year earlier. Apparently it takes them seven weeks to analyze the data...

clipped from www.foxnews.com NEW YORK —  Prices of single-family homes across the nation depreciated in January compared to a year ago, the worst results in more than 13 years, a housing index released Tuesday by Standard & Poor's showed. The data underscored disappointing sales data released by the government on Monday. The S&P/Case-Shiller composite index showed a drop of 0.7 percent from a year ago in the price of a single-family home based on existing homes tracked over time in 10 metropolitan markets. In January 1994 the index dropped by 0.9 percent compared to January 1993, S&P said.