Case-Shiller HPI down 4.9%

The September S&P/Case-Shiller data was weak, as anticipated. Some details:

* The 20-city index fell 4.9% year-over-year in September. That's the largest drop on record and worse than the 4.3% decline in August. Between August and September, the decline was 0.85%.

* The 10-city index, which has a longer history, declined 5.5%. The biggest decline on record, for perspective sake, was 6.3% in April 1991.

* The decline for entire third quarter was 4.5% YOY, the most since Case-Shiller began tracking in 1988 and up from 3.3% in Q2.

* 15 of 20 metropolitan areas showed YOY price declines. Tampa was the worst off at -11.1%, with Miami (-9.96%) and San Diego (-9.64%) close behind. The biggest gains were recorded in Charlotte, N.C. (+4.72%) and Seattle (+4.69%).

You can read more about the report and the data here.

Meanwhile, November consumer confidence fell more than expected -- to 87.3 vs. 95.2 in October and expectations for a reading of 91. The percentage of Conference Board survey respondents who said they planned to buy a home in the next six months slumped further, to 2.5% from 2.7% in October. That's the lowest since June 1994.