Good news for boomer homeowners – while home prices are still relatively low, they aren’t slumping.
According to data through May of this year from Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the 10-City and 20-City Composites declined 16.8 percent and 17.1 percent, respectively, in May compared to the same month last year.
These values are improvements over April’s data, which show annual declines of 18 percent and 18.1 percent, respectively. After 16 consecutive months of record annual declines, beginning in October 2007 and ending in January 2009, the indices have now shown four consecutive months of improvement in annual returns.