National Home Prices Hit New Low in 2011 Q1 According to the S&P/Case-Shiller Home Price Indices

National Home Prices Hit New Low in 2011 Q1 According to the S&P/Case-Shiller Home Price Indices

New York, May 31, 2011 – Data through March 2011, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index declined by 4.2% in the first quarter of 2011, after having fallen 3.6% in thefourth quarter of 2010. The National Index hit a new recession low with the first quarter’s data and posted an annual decline of 5.1% versus the first quarter of 2010. Nationally, home prices are back to their mid-2002 levels.

As of March 2011, 19 of the 20 MSAs covered by S&P/Case-Shiller Home Price Indices and both monthly composites were down compared to March 2010. Twelve of the 20 MSAs and the 20-City Composite also posted new index lows in March. With an index value of 138.16, the 20-City Composite fell below its earlier reported April 2009 low of 139.26. Minneapolis posted a double-digit 10.0% annual decline, the first market to be back in this territory since March 2010 when Las Vegas was down 12.0% on an annual basis. In the midst of all these falling prices and record lows, Washington DC was the only city where home prices increased on both a monthly (+1.1%) and annual (+4.3%) basis. Seattle was up a modest 0.1% for the month, but still down 7.5% versus March 2010.

Full press release below…



National Home Prices Hit New Low in 2011 Q1 According to the S&P/Case-Shiller Home Price Indices

11 Responses to “National Home Prices Hit New Low in 2011 Q1 According to the S&P/Case-Shiller Home Price Indices”
  1. talktotennessee says:

    Most financial services can’t help. About the only effort that really changes the playing field is to locate an attorney who specializes in filing against banks and lenders, get an injunction to stop a sale. It helps if you have all your files, documents, correspondence, efforts at modification, etc. etc. If you listed your house to try short sale or filed bankruptcy that was dismissed. If your loan was a subprime, Alt-A, an ARM or balloon note, interest only or some exotic product where you were obviously taken advantage of, it might help. Having said that, if you find an attorney who is experienced at challenging the foreclosure process (and most bankruptcy attorneys aren’t) you may have a good chance of modifying the loan, particularly if the loan is an iffy type and you can demonstrate your effort to modify, which were ignored or denied. However, bankruptcy can stop a sale and could be an option.

    My personal opinion is the more suits that can be filed that reveal fraud, questionable documentation, etc. helps the overall cause for all. Even now public opinion is turning with programs like the 60 minutes story. When ithe bubble first burst the majority did not favor reducing principal or helping defaulters. Most were very intolerant. As everyone’s equity disappears and fraud has a higher profile, more people are sympathetic.

  2. Readdocs says:

    Those not on the internet to read about this scandal are beginning to hear through other media about this.
    I am hearing folks who do not own a computer talk about they would not buy a foreclosed or short sold home
    because of the possibility of the property having a clouded title.

  3. Pamela says:

    In response to Bryan,I am glad that works where you are at if you start talking like that here you’re asked to leave nobody wants to hear it you are considered a whiner or a sniveler.But hey I’m glad that it is working for you and it is a good idea if you can do it.Congrats. and kudos.

  4. Pamela says:

    In response to anntrummerttraci, you were not a dumb home owner you were simply like the rest of us being led down the proverbial path to destruction.No blame game for yourself you couldd not have known.I’m sorry for your pain I sense alot of it in you.There are alot of very sophisticated people on these web sites that had the same thing happen to them.Whether it was a home,business property,investment property or what have you we are all in the same boat.We all got taken hook line and sinker.There is no shame in making a mistake and thinking you are doing well when you have been led to thinking this is the norm.People these days have no common sense we are too busy living for the moment and instant gratification.Myself included in some of these instances.They {the banks}knew exactly what they were doing.Believe me if anyone had told me I was buying a Bear Sterns Financial product and not a house I would have ran from the closing table as I’m sure in your instance and many others you would have done the same.Remember we don’t have to play by thier rules anymore.We are actually free.It’s only a house not your life,it’s only money as long as you still have your health and your familys love you are a rich person.Be thankful for what you still have left some don’t even have that.If you can get up in the morning and face that person in the mirror and know you’ve done the best you could,you are an extremly fortunate individual.Don’t ever give up and be strong there are people here that can help you.Peace out.

  5. Bryan says:

    Same S&P who gave the great ratings on the bags of shit wall street was selling?

    • l vent says:

      Right!! One giant ongoing criminal enterprise all working in concert with each other. Changing identities does not change who they are. They are all in the same pirate ship and it is sinking.

  6. l vent says:

    Time for Fannie and Freddie to walk away from our homes they do not own. They have completely desimated this country with their Ponzi Scheme Swindle and Heist. Our homes are paid for because that Ponzi Scheme. They made hundreds of trillions off of their scam. They cancelled their own notes and mortgages with all of their fraud. The debt they created out of thin air which created the housing bubble and the manufactured market collapse, is unsustainable under the lousy economic conditions their crimes have created.

  7. Pamela says:

    You would think that this would be enough to wake people up …..but they have to be paying attention which 50 % are not cause it some how does not apply to them or affect them or whatever excuse they can come up with.

    • I am still waiting to see if the new California Group selected by the Attorney General of California makes it too my homes. I own more than one home, will lose everything due to forced early retirement due to injury/other; it has been devastating to lose everything one has worked for, have contacted everyone that I can think of, going on 4 years, and consistently the last 12 months, so far an occasional call from the top brass at the banks, and then nothing. Would like my home back, however thanks to federal housing, fannie mae, bank of america servicing that isn’t going to happen. Totally refused to help with any assistance; one lie after the other; now federal buys crappy loan/changes hands at auction with fannie mae/ home already sold. between the liar agents representing homeowners……..of coarse they are? Homeowners do not stand a chance, take a look at this: sell home for 170?payment is 700+ and for 5 yrs, you paid 2400, 20% down + 60 upgrades, own for 12 yrs., and you were foolish enough to believe the law was on your side?that you were doing everything the right way? what??? maybe they should lock up the homeowners for being so stupid. What a dummy I have been, will never get any of that income back, now just constant phone calls, trying to get more, more, more, and then there are the fake legals calling, like they can help you? hello this is the modification dept??? have people no shame; just how much is one supose to take?

    • Bryan says:

      Because the controled Media wont report on this. Look at the fraud, it’s called a paperwork issue. Look at whats on the news VS on this site or any other site covering the ponzi scam. Get out and show the elected ones, we are not as dumb as you think. I have now started to just show up in my elected ones office, with the fraud documents from the internet. Should see the look on the faces of the people working in the office as i show them. And i make a very clear and to the point case that they all know whats going on and are doing NOTHING to correct or to defend our nation from domestic terror.

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