Pretty Steep Drop in Single Family Home Values

The Case-Shiller Value Analysis for February was published today (remember that this analysis "seasons" its data to give ample time for county records to be updated).  The month-over-month decline in value (at -2.02%) is the sharpest since April of 2009.  This could very well be explained by an increase in foreclosure sales backlogged by the 'robo-signing' revelation made late last year.  Foreclosure and short sale transactions in the Multiple Listing Service were about 6% higher than normal in January and February.  I'll be waiting with bated breath (as I'm sure the readers of this humble blog will be) to see if values stabilize next month.