Homeowners continue to see the value of their houses drop. The problem is much worse in some markets than others. S&P Case-Shiller released its data for April. The 10- and 20-City Composites fell 3.1% and 4.0% respectively from April a year ago.
The drop in home prices in Minneapolis was brutal–down 11.1% year-over-year. The figure for Portland was 9.2%. For Phoenix 8.8%. For Chicago 8.6%. And, for Tampa 7.7%
The most disturbing aspect of the numbers is that the most troubled cities are not clustered in one part of the country. The weakness in housing prices remains widespread.
Douglas A. McIntyre
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
