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%."

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