Data through August 2009, released by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, show that the annual rate of decline of the 10-City and 20-City Composites improved compared to last month’s reading.
This marks approximately seven months of improved readings in these statistics, beginning in early 2009. The annual returns of the 10-City and 20-City Composite Home Price Indices, declined 10.6% and 11.3%, respectively, in August compared to the same month last year.
Nineteen of the 20 metro areas and both Composites showed an improvement in the annual rates of decline with August’s readings compared to July.