Rebound in housing prices fades

For months, housing experts have suggested we’re near the bottom of the drop in housing prices, but we never actually seem to get there. Today, the Case-Shiller Index, which tracks the resale price of homes, shows that home values are still dropping, and a rebound in home prices is fading.

“While we continue to see improvements in the year-over-year data for all 20 cities, the rebound in housing prices seen last fall is fading. Fewer cities experienced month-to-month gains in January than in December 2009, on both a seasonally adjusted and unadjusted basis.” said David Blitzer, chairman of the Index Committee at Standard & Poor’s, said in his release.

The Minneapolis area’s prices also dropped from December to January, not as much as some cities, but the market is still nothing to write home about:

After recording several months of improved resale prices, Minneapolis has now recorded four straight months of declines, according to the index.

Compared to a year ago, Minneapolis is slightly ahead — one of only three cities that can make the claim — but not by a lot.