The average house price in 20 large and medium-sized cities including Phoenix continues to fall, and there is insufficient power for real estate recovery

The average house price in 20 large and medium-sized cities, including Phoenix, continues to fall, and there is insufficient power for real estate recovery. The Case-Shiller House Price Index released by Standard & Poor's on the 29th...

The average house price in 20 large and medium-sized cities, including Phoenix, continues to fall, and there is insufficient power for real estate recovery. The Case-Shiller House Price Index released by Standard & Poor's on the 29th showed that the average house price in 20 large and medium-sized cities in the United States continued to fall in January this year, indicating that the U.S. real estate recovery is still under pressure. Data show that in January, house prices in 20 large and medium-sized cities in the United States fell by 1.0% month-on-month and 3.1% year-on-year. In that month, among the 20 large and medium-sized cities in the United States, only the capital Washington area saw housing prices rise by 3.6% year-on-year, and the San Diego area saw a slight increase of 0.1% year-on-year. Housing prices in the remaining 18 cities and their surrounding areas all dropped, with 11 of them hitting new lows since the peak in 2006-2007. Analysts believe that due to factors such as the high unemployment rate, the expiration of preferential home purchase policies, and the high housing foreclosure rate, the U.S. real estate recovery lacks momentum and currently continues to be in a weak situation of falling prices and stagnant volumes. The Case-Shiller House Price Index reflects changes in selling prices of single-family homes in 20 large and medium-sized cities in the United States and is an important indicator of real estate prices in the United States. The index covers housing prices in 20 large and medium-sized cities in the United States and their surrounding areas, including Phoenix, Los Angeles, San Diego, San Francisco, Denver, Washington, Miami, Tampa, Atlanta, Chicago, Boston, Detroit, Minneapolis, Charlotte, Las Vegas, New York, Cleveland, Portland, Dallas and Seattle.