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Eight cities and both composite indices hit new index lows during the month.
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The numbers conflict with FHFA’s home price data, a discrepancy stemming from the kinds of transactions each index tracks.
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As foreclosures heat up again, prices in hard-hit cities such as Atlanta and Chicago are taking a hit.
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Forward-looking data indicate that more foreclosures—and more price drops—are on the way.
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While S&P reported home price declines, FHFA saw numbers trending up. Both could agree, however, that annual numbers are down.
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Both the S&P/Case-Shiller and FHFA indices had bad news in their August data, and trends don't offer much hope for the near future.
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Detroit made a surprise dash to the front, reporting a higher yearly price improvement than Washington, D.C.
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Greater regional variances suggest "that we are back to regional housing markets," says S&P's David Blitzer.
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Once seasonal factors are taken into account, metro indices were flat.
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Once seasonal factors are taken into account, however, the numbers actually fell in April.