The latest figures from S&P/Case-Shiller have just been released. The research group says home prices dropped 2.23% between October and November in 20 top U.S. metropolitan areas. That was a slight increase from the 2.18% drop a month earlier.
On a year-over-year basis, prices fell 18.2% in November, compared with an 18.1% decline in October. The largest YOY drops could be found in Phoenix (-32.9%), Las Vegas (-31.7%), San Francisco (-30.8%), and Miami (-28.7%). Every single market showed a decline, with the most moderate drops found in Dallas (-3.3%) and Denver (-4.3%).
More on this topic
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Home Depot’s Numbers Show Housing’s Still in the Basement
(Money Morning, 11/17/09)
Zandi on Housing: "I think we are going see to another leg down"
(Wealth Daily, 11/20/09)
Housing as the Great Investment
(The DIV-Net, 11/14/09)
Ivy Zelman: “Home prices are going back down”
(naked capitalism, 11/20/09)
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