There is some good news on the housing front, although this “good news” may only be a relative issue and we are having to go back to February in this data. The S&P/Case-Shiller home-price index for February did stay on path for its neverending slide, but the good news is that the record declines were broken after 16 months. The report showed that 15 of the 20 major metropolitan areas posted average sale price declines of 10% or more and housing prices on a national average look more similar to 2003 levels. The SPDR S&P Homebuilders ETF (NYSE: XHB) is down 1.4% at $13.37 so far this morning.
Full Story: http://247wallst.com/2009/04/28/case-shiller-just-being-less-poor-in-housing-prices-xhb/