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Home Prices Decline Further

The housing market shows no sign of recovery with a further decline in the prices of homes across the US, which will affect adversely the morale of consumers.

An average fall of 18.2 percent was recorded in each of the 20 regions surveyed by the S&P/Case-Shiller for the month of November.

Moreover, the S&P/Case-Shiller index shows a continuous fall for the last 28 consecutive months since August 2006. Compared to the statistics of mid-2006, the present prices of homes are down by about 25 percent.

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