House Prices Continue To Fall in January

New York, NY, March 29, 2011 -- U.S. home prices declined again in January, according to the S&P Case-Shiller home-price indexes.

"These data confirm what we have seen with recent housing starts and sales reports," said David Blitzer, chairman of S&P's index committee.

"The housing market recession is not yet over, and none of the statistics are indicating any form of sustained recovery. At most, we have seen all statistics bounce along their troughs; at worst, the feared double-dip recession may be materializing."

The Case-Shiller index of 10 major metropolitan areas fell 0.9% and the 20-city index was down 1% in January from December.