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Entries in Standard & Poor's (23)

Tuesday
Jun282011

Home Prices Jump in 13 US Cities

Comstock/Thinkstock(WASHINGTON) -- Home prices in major U.S. cities have risen for the first time in eight months as a result of an annual boost of spring buyers. 

According to the Standard and Poor's/Case Shiller Index of home prices, prices have risen for homes in 13 of 20 cities studied. This marks the first time the Case Shiller index has increased since last July.

Prices rose the most in Washington, D.C. Prices in the Charlotte, Chicago, Detroit, Las Vegas, Miami and Tampa areas, on the other hand, hit their lowest in 4 years.

Experts point out that the report for April does not mean things are turning around. The numbers can bounce around from month to month and this small gain in 13 out of the top 20 markets comes after months of declines.

Maureen Maitland of S & P, says the .7-percent increase in the 20-city index doesn't add up to any increase in the annual rate and comes as no surprise.

"These numbers, I believe were largely expected because we're entering a seasonal buying pattern for home prices," said Maitland. "I think most people are expecting to see home prices generally increase in the spring and summer."

Maitland says it would take months of strong numbers to reverse the current down market.

Copyright 2011 ABC News Radio

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

Friday
Dec102010

Sign of the Times: Standard & Poor's Adds Netflix to S&P 500

Photo Courtesy - Getty Images(NEW YORK) -- The online movie rental and streaming service Netflix is being added to the S&P 500, Standard & Poor’s announced Friday, while The New York Times Company will be dropped to the S&P 400.

It’s just the latest example of how the digital age is proving unkind to the newspaper business. Print media is losing readers, advertisers and money as people turn to the Internet and rapidly advancing technology. Newspapers have struggled since the emergence of digital media and venerable publications like The New York Times are losing their dominance.

The change is set to take affect Dec. 17 after the close of trade.

Copyright 2010 ABC News Radio´╗┐

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