The recent Case-Shiller Home Price Index reported that prices declined 18% nationally between August 2007 and August 2008. While this isn't exactly "good news", there is some cause for encouragement - specifically, price declines appear to be decelerating in the current environment. As the chart above shows, the rate of home price declines has slowed in the top 20 real estate markets in the US.
An end to falling home prices will be an important component in stabilizing the financial sector in the long term. Let's hope that the data continues to be encouraging.
