Home Prices Continue Decline, but at Slowing Rate

The closely watched S&P/Case-Shiller Home Price Index, in its June report, showed continued record price declines, but at a slowing rate, and a mixed picture across the country.

The report speaks of "...some regions struggling to come back...," referring to nine that increased month-to-month in June (compared with seven in May), these nine having helped to moderate the national numbers.

This is a the same "two Americas" picture reflected by the National Association of Realtors in its July home sales report a few days earlier.

Among the nine, "...Denver and Boston were the best performing markets for the month," with +1.5% and +1.2% month-to-month gains, respectively. Both have had three consecutive months of such gains.

Although "the rate of home price decline may be slowing," and "there are some improving regional numbers," the overall housing market "remains weak," the report concluded.