by Bill McBride on 8/28/2007 10:51:00 AM
Tuesday, August 28, 2007
U.S. home prices fell 3.2 percent in the second quarter, the steepest rate of decline since Standard & Poor's began its nationwide housing index in 1987, the research group said Tuesday.
The decline in home prices around the nation shows no evidence of a market recovery anytime soon, one of the architects of the index said.
MacroMarkets LLC Chief Economist Robert Shiller said the declining residential real estate market "shows no signs of slowing down."
Posted by Bill McBride on 8/28/2007 10:51:00 AM