Shocka: Home Prices “Unexpectedly” Dip

I’m shocked, shocked!

NEW YORK (Reuters) – Home prices unexpectedly slipped in December but the annual rate of decline slowed, reinforcing the housing market’s rocky road to recovery, Standard & Poor’s/Case-Shiller indexes showed on Tuesday.

The S&P composite index of home prices in 20 metropolitan areas declined 0.2 percent in December, matching the dip in November, for a 3.1 percent annual drop.

A Reuters survey had forecast that prices would be unchanged for the month and down 3.2 percent annually following a 5.3 percent annual drop in November.

Talk about a running gag…the kind that you choke on.

5 Responses to “Shocka: Home Prices “Unexpectedly” Dip”

1. don says:

   February 23, 2010 at 11:35 am

   unexpectedly

   A typo, perhaps.

2. JeffS says:

   February 23, 2010 at 11:43 am

   Maybe a short attention span? ADD does seem to be rampant these days.

3. Gary from Jersey says:

   February 23, 2010 at 12:20 pm

   Unexpectedly, eh? A house down the street sold for $640,000 three years ago. It’s for sale at $440,000 today. No takers.

   I was an English major and even I know that ain’t no 5.3 percent, or 3.2.

   Of course, knowing Reuters, this story is two years old and they just got around to writing it.

4. major dad says:

   February 23, 2010 at 3:38 pm

   MSNBC has story saying housing prices are up for the seventh straight month. Yeah right.

5. JeffS says:

   February 23, 2010 at 5:01 pm

   They are up, Major Dad. Compared to, say, Mesopotamia in 1923.

   It’s all about the baseline reference. Which changes frequently in leftie la la land.