US House Prices Falling to Their Lowest Level Since the 2009 Recession

US mortgages crisis is not over yet, as reported from financialmarkets, The Standard & Poor’s/Case-Shiller composite index of 20 metropolitan areas fell in February – the eighth consecutive monthly decline. This index is very valid, according to the index, house prices were 0.2% lower in February on a monthly basis, falling to their lowest level since the 2009 recession.
So what about the annual trending, The Standard and &P/Case-Shiller index for 20 main US cities fell by 3.3% on an annual basis. David Blitzer S&P’s index committee head, said: “There is very little, if any, good news about housing. He also said, “Prices continue to weaken, trends in sales and construction are disappointing,”
US economics situation is more fragile, Today’s figures again highlight the fragility of the US housing market with many suggesting it is holding back the recovery of their sub prime mortgages crisis