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Tuesday
Mar292011

Home Prices Continue Downward Spiral

Stockbyte/Thinkstock(NEW YORK) -- Home prices are continuing to fall across most major U.S. cities. The latest Standard and Poor's/Case-Shiller index out Tuesday shows price declines in 19 of 20 cities from December to January. Only Washington, D.C. saw prices edge up, a tenth of a percent.

"What we're seeing is continued decline in home prices, and it's across the nation. We really aren't seeing any markets that are showing any sustained recovery at this point," according to S&P Indices Vice President Maureen Maitland, who believes the housing market is still in a recession.

Maitland added that as of right now there is no positive hope for the numbers and we are still seeing a negative momentum in regards to home prices.

Copyright 2011 ABC News Radio

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