Topic: Developments in the Housing Market: 2011
The housing market continued to weaken in 2011, albeit by and large the rate of weakening has declined. S&P/Case-Shiller's national index of housing prices showed an annual decline of 3.9 percent in the third quarter of 2011, which is an improvement over the 5.8 percent annual decline posted in the previous quarter.
Nationally, home prices are back to their level in the first quarter of 2003, which is near the post-bubble low of 33 percent from the peak in 2006.