Double Dip In Housing Is Confirmed, S&P/Case-Shiller Index at Mid-2002 Levels (Data Through March 2011)

Source: S&P and Fiserv

Read the full press release at Standard and Poor's.

"National Home Prices Hit New Low in 2011 Q1 According to the S&P/Case-Shiller Home Price Indices

New York, May 31, 2011 – Data through March 2011, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that the U.S. National Home Price Index declined by 4.2% in the first quarter of 2011, after having fallen 3.6% in the fourth quarter of 2010. The National Index hit a new recession low with the first quarter’s data and posted an annual decline of 5.1% versus the first quarter of 2010. Nationally, home prices are back to their mid-2002 levels." (read more)

Related: Rising Housing Rents Risk U.S. Inflation (Bloomberg)