The Standard & Poor’s housing index fell 16.3 percent in July, the largest decline since it began in 2000. For the fourth straight month, there was not a single pricing increase for any of the twenty cities in which studies for the index are conducted. Though the outlook seems rather dim, monthly declination rates have been steadily decreasing. However David Blitzer, chairman of the S&P’s index committee feels that there is “no evidence of a bottom.”
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