Friday, October 31, 2008

Case Schiller reports home prices post record decline, WSJ 10/28/08


"The indexes showed home prices in 10 major metropolitan areas fell a record 17.7% in August from a year earlier and 1.1% from July. The drop marks the 10-city index's 11th-straight monthly report of a record decline. In 20 major metropolitan areas, home prices dropped 16.6% from the prior year, also a record, and 1% from July.

Both the 10-city and 20-city composites have been declining year over year for 20 straight months.

Month-to-month decliners were led by San Francisco, which posted a 3.5% drop. Phoenix, Las Vegas and San Diego each had declines of more than 2%."

Miller Samuel is an authority of New York City market reports.
Here's the link to Streeteasy's 3Q'08 Manhattan market report. Streeteasy has significantly changed the game by providing key stats to consumers, eg PSF, sale history...
Survey: The World's Next Great Cities - Realtor Magazine