S&P/Case-Shiller: U.S. home prices fall 2.4%

Ally Financial denies foreclosure moratorium Ally Financial, formerly GMAC Mortgage, said previous reports of a foreclosure moratorium in 23 states are not true, and it is instead addressing an issue raised with the execution of one or more.

But home prices are still down 5.9% compared with the second quarter of 2010. The rise in home prices came after three consecutive quarters of drops, as reported by the S&P/Case-Shiller national..

The S&P Case Shiller December 2010 report of existing home prices showed average U.S. home prices declined 2.4% from December 2009. This is the seventh consecutive month of weaker data, which reflects sustained foreclosure volumes and high unemployment that are a drag on economic improvement.

On a national basis, single-family home prices rose 5%, according to the S&P/Case-Shiller U.S. National Home Price. Union is the most recent political concern while the U.S. elections in the fall.

A gauge of home prices featuring 20 major cities, the S&P/Case Shiller index, reported Tuesday that prices rose 0.2% in August but were still down 3.8% year over year. Print Comment

Looking forward, we estimate case shiller home Price Index in the United States to stand at 220.00 in 12 months time. In the long-term, the United States S&P Case-Shiller Home Price Index is projected to trend around 230.00 Index Points in 2020, according to our econometric models.

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The S&P/Case-Shiller U.S. National Home Price Index, which covers all nine U.S. census divisions, recorded a 4.1% decline in the fourth quarter of 2010 over the fourth quarter of 2009. In December, the 10- and 20-City Composites posted annual rates of decline of 1.2% and 2.4%, respectively.

The S&P CoreLogic Case-Shiller 20-City Composite Home Price NSA Index seeks to measures the value of residential real estate in 20 major U.S. metropolitan areas.

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WASHINGTON (MarketWatch) – U.S. home prices in July rose for the fourth straight month, according to data released Tuesday, helped by seasonal factors as well as tentative if halting signs of.

The numbers: The S&P/Case-Shiller national index rose a seasonally adjusted 0.5% and was up 6.3% compared to a year ago in February. The 20-city index rose a seasonally adjusted 0.8% and was 6.8%.

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In addition, home prices are projected to decline 12.7 percent in the District of Columbia. At the end of the second quarter 2010, the median U.S. home price was $177,000. The median monthly mortgage payment in the 2010 second-quarter rose to 14 percent of median family income, an increase of 1 percent over the first quarter of 2010.