Weak, but right as expected.
The 2.4% decline in the 20-city composite was right in line. The 10-city composite fell 1.2%.
19 of the 20 cities fell with the exception of… Washington DC, surprise!
Cleveland and Las Vegas have joined Detroit in being the only cities where home prices are lower than they were in January 2000.
Here’s a look at the city-by-city breakdown:
This isn’t moving the market too much.
The full announcement is here.
Background: Time for the granddaddy of housing numbers. Analysts are looking for continued weakness; specifically a 2.4% slide vs. a 1.59% fall last month.
Generally speaking, this measure has been confirming the housing double dip.